Treasury Secretary Bessent Issues 12-18 Month Warning on AI Dominance as US Races Against China

Scott Bessent, the United States Secretary of the Treasury, issued a stark warning on artificial intelligence this week. According to Bloomberg and The Street reports from a Wall Street Journal event, Bessent said the United States has just twelve to eighteen months before AI defines daily life for Americans. He called the race against China existential, stating if the United States does not win in AI, it is game over. Bessent noted the current American lead over China is only three to six months, but the United States share of global AI computing power has risen from the thirties percent range to the fifties percent and could reach seventy to eighty percent soon.

Bessent framed AI not as a long-term investment but as table stakes in global competition, urging policymakers, companies, and investors to act now. The Street highlighted his message as a countdown rather than a forecast, emphasizing the narrow window.

On Iran, Bessent accused Islamic Revolutionary Guard Corps leaders of funneling money into offshore accounts while ordinary Iranians resort to cross-border trade for basics like cooking oil. Iran International reported Bessent citing a New York Times story on Irans carrying cooking oil from Turkey. On X, he wrote he is amazed the Islamic Revolutionary Guard Corps has forced a new type of oil trading in cooking oil. Bessent affirmed under President Donald Trump, the United States remains committed to the freedom and dignity of the Iranian people after forty-seven years of corruption.

In a separate exchange, Ohio Lieutenant Governor Jon Husted questioned Bessent on using AI at the Internal Revenue Service, as covered in a Forbes Breaking News YouTube video.

These developments underscore Bessents focus on AI leadership and sanctions enforcement in his early days as Treasury Secretary.

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