China said on Saturday it had agreed with the U.S. 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. The two sides also agreed to set up a trade council and extend the outcomes of earlier talks in Kuala Lumpur, while the trade truce was extended by two months beyond its November 10 deadline. On artificial intelligence, the next round of discussions is set for November, with a communication channel to be established for AI-related incidents. Both leaders agreed to support each other in hosting the APEC leaders’ meeting and the G20 summit, planning to attend each other’s gatherings. On foreign policy, they affirmed that Iran should not develop nuclear weapons and that no country should impose transit tolls on international waterways.
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