Trump, Xi move to ease tariffs on $60 billion trade
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Washington, Sep 27 : US President Donald Trump and Chinese President Xi Jinping have moved to ease tariffs covering $60 billion in two-way trade and opened a new dialogue on advanced artificial intelligence, producing the first concrete economic and technology outcomes from Xi’s state visit.
A White House fact sheet said the US-China Board of Trade had reached consensus on recommendations for “more favorable tariff treatment” covering $30 billion of non-sensitive goods in each direction.
China’s official account used firmer language. It described an “arrangement for a 30-billion-US-dollar reciprocal tariff reduction” and said the two leaders directed their officials to implement it.
Neither side disclosed the proposed tariff rates, the size of the reductions or when the changes would take effect.
The American goods covered by the recommendations include agricultural products, fish and seafood, logs and wood products, cosmetics and medical devices. Chinese products include small appliances, toys, holiday decorations and children’s car seats.
The Board of Trade also created a working group to address barriers facing agricultural trade. The mechanism and a separate US-China Board of Investment were chartered during Trump and Xi’s summit in Beijing in May and formally put into operation during the Washington visit.
The investment board will discuss potential projects and obstacles. It is also intended to provide a regular channel for commercially significant investment disputes.
The White House said China would import at least 10 million metric tonnes of US coal in 2027 and at least another 10 million tonnes in 2028. That commitment was not included in China’s published list of summit outcomes.
Rare earths remain unresolved. Washington said the countries were continuing to work on American concerns about shortages of rare earths and other critical minerals. The goal was to restore shipments to appropriate levels. China’s statement did not mention the issue.
Xi said stable economic relations required cooperation as well as competition.
“Cooperation is a two-way street. To keep the economic and trade ties stable, the list of cooperation needs to be lengthened, and the list of issues shortened,” he said, according to China’s Foreign Ministry.
Technology was another major part of the talks. The White House said Trump and Xi agreed to use the term “super intelligence” rather than “artificial intelligence” for the emerging technologies covered by their discussions.
They established a US-China Super Intelligence Dialogue to exchange views on the benefits and risks of the technology. Its next exchange is due by November. The countries will also create a bilateral communication channel for incidents involving advanced AI.
China called the mechanism the China-US AI Dialogue and said its next exchange would occur in November. Xi also said, “AI must be kept under human control.”
The leaders agreed to pursue a “constructive relationship of strategic stability” based on respect, fairness and reciprocity. They plan to meet again at the Asia-Pacific Economic Cooperation summit in Shenzhen in November and the Group of 20 summit in Miami in December.
Their discussions also covered Iran, Russia and North Korea. The White House said they agreed Iran must never acquire a nuclear weapon and that no country or institution should impose tolls on international waterways.
A White House fact sheet said the US-China Board of Trade had reached consensus on recommendations for “more favorable tariff treatment” covering $30 billion of non-sensitive goods in each direction.
China’s official account used firmer language. It described an “arrangement for a 30-billion-US-dollar reciprocal tariff reduction” and said the two leaders directed their officials to implement it.
Neither side disclosed the proposed tariff rates, the size of the reductions or when the changes would take effect.
The American goods covered by the recommendations include agricultural products, fish and seafood, logs and wood products, cosmetics and medical devices. Chinese products include small appliances, toys, holiday decorations and children’s car seats.
The Board of Trade also created a working group to address barriers facing agricultural trade. The mechanism and a separate US-China Board of Investment were chartered during Trump and Xi’s summit in Beijing in May and formally put into operation during the Washington visit.
The investment board will discuss potential projects and obstacles. It is also intended to provide a regular channel for commercially significant investment disputes.
The White House said China would import at least 10 million metric tonnes of US coal in 2027 and at least another 10 million tonnes in 2028. That commitment was not included in China’s published list of summit outcomes.
Rare earths remain unresolved. Washington said the countries were continuing to work on American concerns about shortages of rare earths and other critical minerals. The goal was to restore shipments to appropriate levels. China’s statement did not mention the issue.
Xi said stable economic relations required cooperation as well as competition.
“Cooperation is a two-way street. To keep the economic and trade ties stable, the list of cooperation needs to be lengthened, and the list of issues shortened,” he said, according to China’s Foreign Ministry.
Technology was another major part of the talks. The White House said Trump and Xi agreed to use the term “super intelligence” rather than “artificial intelligence” for the emerging technologies covered by their discussions.
They established a US-China Super Intelligence Dialogue to exchange views on the benefits and risks of the technology. Its next exchange is due by November. The countries will also create a bilateral communication channel for incidents involving advanced AI.
China called the mechanism the China-US AI Dialogue and said its next exchange would occur in November. Xi also said, “AI must be kept under human control.”
The leaders agreed to pursue a “constructive relationship of strategic stability” based on respect, fairness and reciprocity. They plan to meet again at the Asia-Pacific Economic Cooperation summit in Shenzhen in November and the Group of 20 summit in Miami in December.
Their discussions also covered Iran, Russia and North Korea. The White House said they agreed Iran must never acquire a nuclear weapon and that no country or institution should impose tolls on international waterways.
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Note: The content of this article is sourced from a news agency and has not been edited by the ap7am team.