U.S. and China agreed to reduce tariffs on $30 billion in goods and establish an AI incident channel following a three-day summit. The deal marks a step toward easing trade tensions and fostering cooperation on technology issues.
The summit saw Trump and Xi agree to lower tariffs on $30 billion in goods each country imports from the other. They also pledged to create a mechanism for discussing AI-related incidents, with a specific dialogue scheduled for November.
Both nations will continue working on reducing reciprocal tariffs on non-sensitive goods like agricultural products and holiday decorations. The agreement also includes efforts to address rare earths supply concerns and maintain a trade truce.
The summit did not resolve deep differences between the two nations, but it established working groups to prevent disputes from escalating. Analysts noted that incremental progress on cooperation and crisis management is significant despite unresolved tensions.