China and the United States have agreed to a $30 billion reciprocal tariff-reduction arrangement and plans to open dialogue on artificial intelligence, according to China’s Ministry of Foreign Affairs.
The agreements formed part of an eight-point consensus reached during Chinese President Xi Jinping’s visit to the United States, with both sides recognising the work of their economic teams.
The ministry said the two countries also agreed to establish a trade council, implement the tariff-reduction arrangement and extend the outcomes of earlier discussions held in Kuala Lumpur.
The latest understanding comes after Washington and Beijing agreed to extend their trade truce by two months. US Treasury Secretary Scott Bessent said the extension would allow more time for negotiations toward a potentially broader trade agreement.
Xi and US President Donald Trump concluded a three-day summit that focused heavily on personal diplomacy, although it produced few major public breakthroughs. Xi has since returned to Beijing, according to Chinese state media.
On artificial intelligence, the two sides agreed to create a dialogue focused on the technology’s risks and benefits. The next round of discussions is scheduled for November, while a communication channel will also be established to address AI-related incidents.
China and the US further agreed to support each other in hosting the Asia-Pacific Economic Cooperation leaders’ meeting and the Group of Twenty summit. Both leaders indicated they intend to attend gatherings hosted by the other country.
On foreign policy, the leaders agreed that Iran should uphold its commitment not to develop nuclear weapons. They also agreed that no country or entity should impose transit tolls on international waterways.
The two sides also recalled their history as allies during World War Two.
Ojo Triumph
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