US and China to cut tariffs on $30 billion in imports each — The Hill
In the United States, Washington and Beijing agreed to reduce tariffs on $30 billion worth of goods that each country imports from the other, as well as begin negotiations on artificial intelligence. The agreements were reached after a summit between US President Donald Trump and Chinese President Xi Jinping in Washington. The Hill reports.
These decisions were included in an eight-point consensus reached during Xi Jinping's three-day state visit to Washington, which ended on Friday. The tariff reductions will apply to goods that the parties identified as non-critical, including agricultural and energy products.
Trade truce
US Treasury Secretary Scott Bessent had previously said that he and US Trade Representative Jamieson Greer discussed in New York the possibility of reducing these tariffs to the most-favored-nation level. The proposal was first put forward during the May summit between Trump and Xi Jinping in Beijing, and negotiations on it continued ahead of the current meetings.
Washington and Beijing also agreed to extend the broader trade truce by two months, from November 10 to January 10. According to Bessent, this is intended to give officials more time for further negotiations.
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AI negotiations
Separately, the United States and China will create a channel to handle incidents related to artificial intelligence and hold talks on the risks and benefits of this technology. The first specialized meeting on AI is scheduled for November.
Before the summit, Trump said that artificial intelligence, which he called superintelligence, would be one of the main topics of his meeting with Xi Jinping. The US president also said he intended to create an AI Force structure and appoint an AI official, but ruled out Bessent as a candidate.
Another point of the agreements is strengthening military crisis communications. The United States and China plan to sign a memorandum of understanding aimed at preventing confrontations between their armed forces. According to Chinese state media, Xi Jinping returned to Beijing on Saturday.
