Scott Bessent From Beijing 5/14/26

Squawk Pod

CNBC

Business News, Business, Investing, News

4.2 • 543 Ratings

🗓️ 14 May 2026

⏱️ 37 minutes

🔗️ Recording | iTunes | RSS

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Summary

The U.S. and China are opening a new chapter in artificial intelligence talks. Treasury Secretary Scott Bessent joins our Joe Kernen to discuss AI, trade, oil prices and more. Bessent argues the U.S. is negotiating from a position of strength, as the Trump administration weighs chip export rules and the future of Nvidia sales to China. Plus, CNBC’s Eamon Javers breaks down President Trump’s visit to Beijing for a high-stakes summit with Chinese President Xi Jinping. The leaders are tackling trade, technology, and Taiwan. Eamon Javers - 3:34 Sec. Scott Bessent - 10:32 In this episode: Sec. Scott Bessent, @SecScottBessent Eamon Javers, @eamonjavers Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music, please.
0:04.6	Hi, I'm CNBC producer Katie Kramer.
0:07.4	Today on Squawk Pod, high stakes in Beijing are Amin Javers reports.
0:13.5	This is one of the great questions of history.
0:15.5	Can the U.S. and China manage not to fall into that trap of competition and conflict and war.
0:22.4	Treasury Secretary Scott Bessent joins us exclusively from China.
0:26.9	President Trump today told Xi Jinping that he wants to open up China and China should open up.
0:34.2	Bessent said our two countries would create an AI safety protocol to develop the
0:39.3	technology. The U.S. is the undisputed leader in the world here. We have the greatest AI
0:45.9	companies. Plus, chips, Taiwan, oil prices. West Texas prude six, nine months out,
0:53.9	it is substantially lower.
0:55.8	The curve is in substantial backwardation.
0:58.7	A lot of news made in this conversation, you don't want to miss a moment.
1:02.6	We're at record production.
1:04.2	We're in energy superpower, and we're just going to keep pumping.
1:08.7	It's Thursday, May 14th, 2026. Squawk Pod begins right now. Stand and under five. Three, two, one, up and end to us two. With Mike. Good morning and welcome to Squackbox right here on CNBC. We're live at the NASDAQ market site in Times Square. I'm Andrew Ross Sork. Along with Joe Kern. And Becky is off today.
1:28.7	We grappled with everything yesterday.
1:30.6	Really warm PPI numbers.
1:33.1	I remember they initially the, the Dow had been down, but the NASDAQ was up 300, right?
1:41.3	The Dow was down about 100.
1:42.9	The S&P was flat.
1:58.7	Those numbers came out, and the NASDAQ's gains got paired from 300 to about 70. Remember that? And the Dow, which had been down about 100, was down 300. By the end of the day, the Dow barely ended lower. Yep.
	...

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