US-China Deal: Beijing says tariff cuts and AI dialogue agreed after Xi-Trump summit

The US-China Deal forms part of an eight-point consensus reached during Xi’s three-day state visit, according to China’s Ministry of Foreign Affairs.

The two countries also agreed to establish a trade council and extend the outcomes of earlier negotiations in Kuala Lumpur, the ministry said.

The latest arrangement comes after Washington and Beijing agreed to extend their existing trade truce by two months. The extension gives both sides additional time to negotiate a broader agreement before the truce expires on November 10.

Xi and US President Donald Trump ended their summit after discussions covering trade, technology and wider international issues. Xi has since returned to Beijing, according to Chinese state media.

Artificial intelligence was another major part of the agreement. China and the US will establish a dialogue to discuss the technology’s risks and benefits, with another round scheduled for November.

The two sides also agreed to create a communication channel for incidents involving artificial intelligence. The move follows earlier discussions between senior US and Chinese officials about AI safety and emergency communication.

The countries further agreed to support each other in hosting major international gatherings, including the Asia-Pacific Economic Cooperation leaders’ meeting and the Group of 20 summit.

Both Xi and Trump have indicated that they intend to attend the meetings when they are hosted by the other country. China’s foreign ministry said the two leaders agreed to support each other’s hosting of the 2026 APEC Economic Leaders’ Meeting and G20 summit.

The leaders also discussed international and regional issues. According to China’s foreign ministry, they agreed that Iran should honour its commitment not to develop nuclear weapons.

The ministry also said the two sides agreed that no country or entity should impose transit tolls on international waterways.

China and the US also recalled their cooperation as allies during the Second World War, according to the Chinese statement.

The summit produced several economic and diplomatic commitments, but details of the tariff arrangement and its implementation will determine how significantly it changes trade between the world’s two largest economies.