Chinese President Xi Jinping and U.S. President Donald Trump concluded a three‑day summit in Beijing on Friday, during which the two sides announced a $30 billion reduction in tariffs and agreed to hold a dialogue on artificial intelligence, Beijing officials said.
The tariff cut, described by Chinese authorities as a mutual reduction of duties on selected goods, totals $30 billion and is intended to ease the trade friction that has marked relations between the world’s two largest economies.
In parallel, the leaders pledged to establish a regular dialogue on artificial intelligence, with officials indicating that the talks will focus on cooperation, standards and the responsible development of AI technologies.
Analysts noted that the summit was characterized more by personal diplomacy than by sweeping public policy breakthroughs, with Xi and Trump meeting privately and exchanging gifts rather than unveiling a broad agenda.
The meeting takes place against a backdrop of ongoing trade tensions that have seen both countries impose tariffs on hundreds of billions of dollars of each other’s goods since 2018.
Beijing’s spokesperson said the agreements reflect a “new era of cooperation” that will benefit both nations, but provided no further details on implementation timelines or the specific sectors affected.
<small>Source: CNBC — read the original story there.</small>