China, US agree to AI dialogue, tariff cuts on $30 billion in goods during Xi visit
SPY•The United States and China agreed to reduce tariffs on $30 billion of non-sensitive goods in each direction and launch an AI dialogue, with the next round set for November.
1. Tariff reductions and trade council
The United States and China agreed to reduce tariffs on $30 billion of goods in each direction following President Xi Jinping's visit to Washington. The reductions would cover US exports such as agricultural goods, wood and cosmetics, and US imports including small appliances, toys and decorations. The countries also agreed to set up a trade council and extend outcomes from earlier talks in Kuala Lumpur.
2. AI talks set for November
The two sides agreed to hold a dialogue on AI risks and benefits, with discussions set to resume in November, and to establish a communication channel for AI-related incidents. The White House said the leaders agreed to use “super intelligence” in place of “artificial intelligence.”
