China, US agree to $30 billion tariff cut, AI dialogue during Xi visit, Beijing says

China said on Saturday it had agreed with the US on a $30 billion reciprocal tariff-reduction arrangement and on launching a dialogue on AI, under an eight-point consensus reached during President Xi Jinping's visit to Washington.

What did China and the US agree on during Xi's visit?

China and the US reached an eight-point consensus covering trade, AI and foreign policy during Xi's visit to Washington. The countries agreed to cut tariffs on $30 billion worth of goods, launch a dialogue on artificial intelligence, and set up a new bilateral trade council.

What other trade agreements did China and the US reach?

The two sides also agreed to extend the outcomes of earlier talks in Kuala Lumpur, the Chinese Foreign Ministry said. The agreement follows an earlier move by the world's two largest economies to extend a trade truce, due to expire on November 10, by two months. That extension gives both sides more time to work on a potentially bigger trade deal, US Treasury Secretary Scott Bessent said on Wednesday.

The three-day summit between Xi and President Donald Trump, which ended on Friday, showcased personal diplomacy rather than big public breakthroughs. Xi has since landed in Beijing, Chinese state news agency Xinhua reported on Saturday.

Has China confirmed a deal with the US?

Yes. Chinese Foreign Minister Wang Yi confirmed the agreements in a statement, calling the visit historic. He said it enriched the constructive and stable China-US relationship, upheld the overall stability of bilateral ties, and opened a new chapter in China-US relations with far-reaching impact on world peace and development.

What does the AI dialogue between China and the US involve?

On artificial intelligence, the two sides agreed to hold a dialogue on the technology's risks and benefits, with the next round of discussions set for November. They also agreed to set up a communication channel for AI-related incidents, the Chinese Foreign Ministry said.

The ministry said separately that Beijing valued Washington's use of the term "super intelligence" in place of "artificial intelligence." As AI technology continues to advance, the two sides should step up exchanges and work toward consensus in line with new developments, it said.

What else was agreed beyond trade and AI?

The two sides also agreed to support each other in hosting the Asia-Pacific Economic Cooperation 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, the ministry said.

The U.S. Embassy in Beijing did not immediately respond to a Reuters request for comment.