China, US agree to AI dialogue, $42b in tariff cuts during state visit
The tariff reductions are set to apply to US exports such as agricultural goods, wood and cosmetics, as well as US imports including small appliances, toys, decorations.
During President Xi Jinping's three-day visit to Washington, the United States and China reached an agreement to reduce tariffs on $42 billion worth of goods and establish a trade council. The two nations also agreed to maintain regular dialogue on the risks and benefits of artificial intelligence, with further discussions planned for November. In addition, the two countries committed to support each other in hosting the Asia-Pacific Economic Cooperation summit in Shenzhen, China, and the Group of 20 summit in Florida.
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