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China, US agree to $30 billion tariff cut, AI dialogue during Xi visit, Beijing says
Reuters • • general
Key Points:
- China and the US agreed on a $30 billion reciprocal tariff-reduction arrangement and to launch a dialogue on artificial intelligence during President Xi Jinping's visit to Washington, as part of an eight-point consensus.
- The two countries will establish a trade council and extend previous trade talks outcomes, following a recent two-month extension of a trade truce set to expire on November 10.
- The AI dialogue will focus on the risks and benefits of the technology, with the next discussion scheduled for November, and a communication channel for AI-related incidents will be created.
- Both sides committed to supporting each other in hosting the Asia-Pacific Economic Cooperation leaders' meeting and the Group of 20 summit, with both leaders planning to attend the other's hosted gatherings.
- On foreign policy, the leaders agreed Iran must comply with nuclear non-proliferation commitments and that no country should impose transit tolls on international waterways.
