On Saturday, 26 September, China announced that it had reached a $30 billion reciprocal tariff‑reduction deal with the United States, a key outcome of President Xi Jinping’s three‑day summit with President Donald Trump in Washington. The agreement, part of an eight‑point consensus, also set up a trade council and extended a trade truce that was due to expire on 10 November, giving the two economies more time to negotiate a larger trade package.
Under the tariff cut, both sides will lower duties on goods worth $30 billion, a move that the U.S. Treasury Secretary, Scott Bessent, said would help ease trade tensions between the world’s two largest economies. The truce, which was originally scheduled to lapse on 10 November, has now been prolonged by two months, according to the Chinese Foreign Ministry.
The summit also produced a framework for dialogue on artificial intelligence. The parties agreed to hold a second round of discussions in November, to establish a communication channel for AI‑related incidents, and to use the term “super intelligence” instead of “artificial intelligence,” a preference highlighted by Beijing. The ministry said the two sides should deepen exchanges as AI technology advances.
In addition to trade and technology, the leaders pledged to support each other in hosting the Asia‑Pacific Economic Cooperation (APEC) leaders’ meeting and the Group of 20 (G20) summit, with both presidents planning to attend the gatherings hosted by the other country.
Foreign‑policy points were also addressed. The leaders agreed that Iran should honour its commitment not to develop nuclear weapons and that no country or entity should impose transit tolls on international waterways, the ministry said.
“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 in a statement.
After the summit, Xi returned to Beijing, as reported by Xinhua. The U.S. Embassy in Beijing did not immediately respond to a request for comment.
<small>Source: Yahoo News — read the original story there.</small>