SHANGHAI, Sept 26 — China and the United States (US) have agreed to a US$30 billion (RM122.2 billion) reciprocal tariff-reduction arrangement and to launch dialogue on artificial intelligence (AI), under an eight-point consensus reached during Chinese President Xi Jinping's visit to the US,
The Chinese Foreign Affairs Ministry said the two sides recognised the work of their economic teams and endorsed steps including establishing a trade council, the tariff-reduction arrangement, and extending outcomes from earlier talks in Kuala Lumpur, Malaysia.
On Wednesday, US Treasury Secretary Scott Bessent said that both nations had earlier agreed to extend by two months a trade truce that was due to expire on November 10, allowing more time to work on a potentially bigger trade deal.
The leaders of the world's two largest economies ended a three-day summit that showcased personal diplomacy rather than big public breakthroughs. Chinese state media Xinhua reported on Saturday that Xi has since landed in Beijing.
On AI, the two sides agreed to establish a dialogue to discuss the technology's risks and benefits, with the next round of discussion set for November, and to set up a communication channel for AI-related incidents.
The ministry added that they also agreed to support each other in hosting the Asia-Pacific Economic Cooperation leaders' meeting and the G20 summit, with both leaders signalling their intention to attend the other's gatherings.
On foreign policy, Xi and Trump 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. They also recalled that China and the US fought as allies in World II.
