China, US agree to $30 billion tariff cut, AI dialogue following Xi-Trump summit in Washington

China and the US agreed to a $30 billion reciprocal tariff-reduction arrangement and to launch an AI dialogue, under an eight-point consensus reached during Xi Jinping's meeting with Donald Trump in Washington. The two sides also extended a trade truce by two months and agreed on foreign policy points regarding Iran and international waterways.

China and the US have agreed to a $30 billion reciprocal tariff-reduction arrangement and to launch a formal dialogue on artificial intelligence, under an eight-point consensus reached during Chinese President Xi Jinping's meeting with US President Donald Trump in Washington. The agreement follows a three-day summit that showcased personal diplomacy rather than big public breakthroughs. The two sides recognized the work of their economic teams and endorsed steps including the establishment of a trade council and an extension of outcomes from earlier talks in Kuala Lumpur. The United States and China had earlier agreed to extend by two months a trade truce that was due to expire on November 10. On AI, the two sides agreed to establish a dialogue to discuss the technology's risks and benefits, with the next round set for November, and to set up a communication channel for AI-related incidents. On foreign policy, the leaders agreed that Iran should fulfill its commitment not to develop nuclear weapons, and that no country or entity should impose transit tolls on international waterways. They also recalled that China and the United States fought as allies in World War Two. The report is sourced from Reuters and China's Ministry of Foreign Affairs, with no narrative-voice manipulation detected.