China, US agree to US$30bil tariff cut, AI dialogue during Xi visit
SHANGHAI: China said on Saturday it had agreed with the US on a US$30 billion reciprocal tariff-reduction arrangement and on launching a dialogue on AI, under an eight-point consensus reached during President Xi Jinping’s visit to Washington.
SHANGHAI: China and the United States have reached an agreement, according to the Chinese Foreign Ministry, following President Xi Jinping's visit to Washington. The two nations have agreed on a US$30 billion reciprocal tariff reduction, a dialogue on Artificial Intelligence (AI), and the establishment of a trade council. This comes after the two largest economies extended a trade truce that had been set to expire on November 10, granting more time to negotiate a potentially larger trade deal.
The three-day summit, which concluded on Friday, emphasized personal diplomacy rather than significant public breakthroughs. During the summit, President Xi and President Donald Trump discussed a range of topics, including AI, foreign policy, and their support for each other's hosting of major international gatherings.
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Also reported by 1 other outlet
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