China and United States Reach $30 Billion Tariff Cut Deal and Initiate AI Dialogue

China said it had reached a reciprocal $30 billion tariff-reduction agreement with the United States and an eight-point consensus that includes a new dialogue on artificial intelligence, following President Xi Jinping's visit to Washington. The two sides also agreed to establish a trade council and to build on earlier talks held in Kuala Lumpur, the Chinese foreign ministry said.

The tariff arrangement comes after both countries extended a trade truce by two months, which was set to expire on November 10, according to U.S. Treasury Secretary Scott Bessent. The three-day summit between Xi and President Donald Trump concluded on Friday and emphasized personal diplomacy.

"This historic visit enriched the constructive and stable China-US relationship, upheld the overall stability of bilateral ties, opened a new chapter in China-US relations, and will have a far-reaching impact on world peace and development," Chinese Foreign Minister Wang Yi said.

On artificial intelligence, the parties agreed to hold a dialogue on the technology's risks and benefits, with the next round scheduled for November, and to create a communication channel for AI-related incidents. Beijing noted its appreciation for Washington's use of the term "super intelligence" instead of "artificial intelligence" and called for increased exchanges as the technology evolves.

The leaders also pledged to support each other in hosting the Asia-Pacific Economic Cooperation leaders' meeting and the Group of 20 summit, and they affirmed that Iran should honor its commitment not to develop nuclear weapons and that no entity should impose transit tolls on international waterways. The U.S. Embassy in Beijing did not immediately respond to a request for comment.