China, US agree on $30bn tariff cuts, AI dialogue after Xi-Trump summit
“China said Saturday that it had reached an agreement with the United States on a $30 billion reciprocal tariff-reduction arrangement and agreed to launch a dialogue on artificial intelligence followin…”
The Chinese Foreign Ministry said the agreements were part of an eight-point consensus reached during Xi’s three-day summit with US President Donald Trump. The two sides also agreed to establish a trade council and extend the outcomes of earlier talks in Kuala Lumpur.
The agreement follows a decision by the world’s two largest economies to extend their trade truce by two months beyond its previous November 10 expiry, allowing additional time to work toward a broader trade agreement. On AI, China and the US agreed to hold discussions on the technology’s risks and benefits, with the next round scheduled for November.
They will also establish a communication channel for AI-related incidents. The two countries agreed to support each other in hosting the Asia-Pacific Economic Cooperation leaders’ meeting and the G20 summit, with both leaders planning to attend meetings hosted by the other country.
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On foreign policy, the two leaders agreed that Iran should fulfil its commitment not to develop nuclear weapons. They also agreed that no country or entity should impose transit tolls on international waterways.
Chinese Foreign Minister Wang Yi described Xi’s visit as strengthening a constructive and stable China-US relationship and said it would have a far-reaching impact on global peace and development.
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