Daijiworld Media Network - Washington
Washington, Sep 27: US President Donald Trump and Chinese President Xi Jinping have agreed to ease tariffs covering $60 billion in two-way trade and launch a new dialogue on advanced artificial intelligence, marking the first concrete economic and technology outcomes from Xi’s state visit.
According to a White House fact sheet, the US-China Board of Trade reached consensus on recommendations for “more favorable tariff treatment” covering $30 billion worth of non-sensitive goods in each direction.
China’s official account used firmer language, describing the outcome as an “arrangement for a 30-billion-US-dollar reciprocal tariff reduction” and saying the two leaders had directed their officials to implement it.
Neither side disclosed the proposed tariff rates, the extent of the reductions or when they would come into effect.
US 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 has also set up a working group to address barriers to agricultural trade. The mechanism, along with a separate US-China Board of Investment, was chartered during Trump and Xi’s summit in Beijing in May and formally became operational during Xi’s Washington visit.
The investment board will discuss potential projects and investment obstacles and provide a regular channel for resolving commercially significant investment disputes.
The White House said China would import at least 10 million metric tonnes of US coal in 2027 and another 10 million tonnes in 2028. However, the commitment was not included in China’s published list of summit outcomes.
The issue of rare earths remains unresolved. Washington said the two countries were continuing discussions on US concerns over shortages of rare earths and other critical minerals, with the aim of restoring shipments to appropriate levels. China’s statement did not mention the issue.
Xi said stable economic ties required both cooperation and 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 key area of the discussions. The White House said Trump and Xi had agreed to use the term “super intelligence” instead of “artificial intelligence” for the emerging technologies covered by their talks.
The two sides agreed to establish a US-China Super Intelligence Dialogue to exchange views on the benefits and risks associated with the technology. The next exchange is scheduled for November.
They will also establish a bilateral communication channel to deal with incidents involving advanced AI.
China referred to the mechanism as the China-US AI Dialogue and said its next exchange would take place in November. Xi also stressed that “AI must be kept under human control.”
The two leaders agreed to pursue a “constructive relationship of strategic stability” based on respect, fairness and reciprocity.
Trump and Xi are scheduled 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 that Iran must never acquire a nuclear weapon and that no country or institution should impose tolls on international waterways.