Washington, August 20, 2026 (Yes Punjab News)
US President Donald Trump has claimed that the United States is “way ahead” of China in artificial intelligence, saying AI is likely to feature in discussions when Chinese President Xi Jinping visits the US in September.
Speaking at the White House during a meeting with leaders from the technology, cryptocurrency and financial sectors, Trump said the US was leading in AI and other emerging technologies.
“We’re leading in every single one, and I will tell you, the AI, the artificial intelligence, we’re way ahead of number two,” Trump said.
“Number two is China, and I never want to underestimate China, but right now we’re way ahead,” he added, referring to Xi’s planned visit on September 24.
Trump said AI would probably be among the issues discussed during his meeting with the Chinese President, alongside other bilateral matters.
The US President also stressed the need for regulation that does not restrict technological development. “We want to regulate, but we want to have it regulated where they can continue to lead, not regulation that’s going to stifle a very important industry,” he said, describing AI as potentially bigger than the internet.
Trump said AI would generate employment and drive innovation, particularly in the medical sector. He cited the construction of AI facilities and data centres as examples of the technology’s potential to create jobs and generate tax revenues.
“If I were the mayor of a town or the governor of a state, and I had a chance to get a big plant in, an AI plant or a data centre, I would absolutely want it because the jobs are enormous,” he said.
Trump also said his administration was accelerating approvals for technology companies seeking to build their own power-generation facilities. He argued that the move would support the growing electricity requirements of AI infrastructure while easing pressure on the ageing US power grid.
The White House meeting came ahead of the first meeting of the Commodity Futures Trading Commission’s Innovation Advisory Committee and included senior regulators and executives from companies including Coinbase, Nasdaq, Robinhood, Kraken, Ripple, Chainlink Labs, Gemini and Intercontinental Exchange, the parent company of the New York Stock Exchange.
CFTC Chairman Michael Selig described computing capacity as a strategic resource in the global AI race.
“Some call it digital oil, and America needs to dominate these markets to win the AI race,” Selig said.
Trump also called on Congress to pass the CLARITY Act, legislation aimed at establishing a regulatory framework for digital assets. Coinbase co-founder Brian Armstrong said a congressional vote was expected on September 15 and described the legislation as a bipartisan compromise.
The US and China are increasingly treating AI leadership as a strategic priority, with advanced semiconductors, computing infrastructure, energy supplies and specialised talent emerging as key areas of competition.
Washington has also imposed export controls restricting China’s access to certain advanced chips and semiconductor manufacturing technologies.
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