Trump says he’s calling off widely anticipated order to rein in AI

President Donald Trump called off plans to sign a new executive order on artificial intelligence hours before an expected White House ceremony Thursday because he said he was worried the measure could dull America’s edge on AI technology. Trump said he was postponing the Oval Office event with tech industry executives because he did not like what he saw in the order’s text. “We’re leading China, we’re leading everybody, and I don’t want to do anything that’s going to get in the way of that lead,” Trump told reporters. The push for some kind of government action to vet the most powerful AI systems follows growing concern within the banking industry and other institutions about the leaps in AI’s abilities to find cybersecurity vulnerabilities in the world’s software. Treasury Secretary Scott Bessent and outgoing Federal Reserve Chair Jerome Powell convened an urgent meeting with Wall Street CEOs in April, warning them about the cybersecurity risks posed by Anthropic’s AI model, Claude Mythos. The meeting, urgently assembled at the Treasury Department’s headquarters, was intended to ensure that banks were aware of the risks associated with the models, Bessent said at CNBC’s “Invest in America Forum” in Washington in April. “This new Anthropic model is very powerful,” he said. “Some banks are doing a better job in cybersecurity than others, and we want to have the ability to convene them and talk about what is best practices and where they should be heading.” That led some allies of the Republican president to propose better methods for getting those AI tools in the hands of trusted cybersecurity experts. Trump had pledged to undo the AI safety regulations set by his predecessor, Democratic President Joe Biden. Trump’s administration has viewed the AI sector as an engine to help deliver on his pledges to expand the economy and he has promoted its major players at events at the White House and around the world. Last week, Trump had tech CEOs in tow for