The US and China have agreed to reduce tariffs on $30 billion of goods and launch a dialogue on artificial intelligence, the countries said following President Xi Jinping's visit to the US.
The tariff reductions will apply to US exports such as agricultural goods, wood and cosmetics, as well as US imports including small appliances, toys, decorations, a White House statement said.
“The two countries reached consensus on recommendations for more favourable tariff treatment for $30 billion of non-sensitive goods in each direction,” the White House said.
The three-day summit between Mr Xi and US President Donald Trump, which ended on Friday, was largely an exercise in mutual diplomacy but did feature some breakthroughs.
The two sides agreed to set up a trade council and extend the outcomes of earlier talks in Kuala Lumpur, the Chinese Foreign Ministry said.
The agreement follows a move by the world's two largest economies to extend a trade truce that had been due to expire on November 10 by two months, allowing more time to work on a potentially bigger deal, US Treasury Secretary Scott Bessent 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.
'Super intelligence'
On AI, the two sides agreed to hold dialogue on the technology's risks and benefits, with the next round of discussions set for November, and to set up a communication channel for AI-related incidents, the Chinese Foreign Ministry and the White House said.
The White House said the leaders had agreed to use the term “super intelligence” in place of “artificial intelligence”. The Chinese Ministry said Beijing valued Washington's use of the new term.
As AI technology continues to advance, the two sides should step up exchanges and work towards consensus in line with new developments, the statement said.
The US and China also agreed to support each other in hosting the Asia-Pacific Economic Co-operation leaders' meeting and the Group of 20 summit, with both leaders planning to attend the gatherings hosted by the other.
On foreign policy, the leaders agreed that Iran should fulfil its commitment not to develop nuclear weapons, and that no country or entity should impose transit tolls on international waterways.
