The United States and China have agreed to reciprocal tariff reductions covering $30 billion in goods and to launch a dialogue on artificial intelligence following President Xi Jinping’s three-day visit to Washington.
The measures form part of an eight-point consensus reached during Xi’s summit with President Donald Trump, which concluded Friday.
The two governments also agreed to establish a trade council and extend outcomes from earlier negotiations in Kuala Lumpur.
The tariff reductions will apply to non-sensitive goods, although neither government has released final tariff rates or a complete list of covered products.
U.S. exports expected to receive favorable treatment in China include agricultural products, fish and seafood, logs and wood products, cosmetics and medical devices.
Chinese exports receiving preferential U.S. treatment include small appliances, toys, holiday decorations and children’s car seats.
Additional details are expected Monday.
The agreement follows a two-month extension of an existing trade truce that had been scheduled to expire on November 10, giving negotiators more time to pursue a broader agreement.
The two countries also plan to use the newly established trade body to negotiate further tariff reductions and address other trade disputes.
China said Washington and Beijing agreed to hold talks on the risks and benefits of artificial intelligence, with the next round scheduled for November.
They will also establish a communication channel for incidents related to AI.
Beijing separately said it welcomed Washington’s use of the term “super intelligence” and called for increased exchanges as the technology develops.
Trump and Xi also agreed that their countries would support each other in hosting upcoming Asia-Pacific Economic Cooperation and Group of 20 leaders’ meetings, with both leaders planning to attend gatherings hosted by the other.
On foreign policy, the leaders agreed that Iran should fulfill its commitment not to develop nuclear weapons and that countries or entities should not impose transit tolls on international waterways.