SITUATION EXPLAINED: The US and China are set to agree on one thing: a hotline for AI incidents. • Bessent and He Lifeng already settled it. The channel would cover incidents serious enough to reach national security level • A pacing agreement, a ban on recursive self-improvement, and export controls are all off the table. Both sides have signaled they don't want them • Trump this morning: "Super intelligence, SI, will be a big topic of discussion, but I want to leave it exactly where it is.…