China, U.S. Agree to $30 Billion Tariff Cut and AI Dialogue

Investing.com·26 Sep 2026·

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China and the United States agreed to a $30 billion reciprocal tariff-reduction arrangement and new talks on artificial intelligence during President Xi Jinping's visit to the U.S., Reuters reported, citing China's foreign ministry. The measures form part of an eight-point consensus reached during Xi's meetings with U.S. President Donald Trump, according to the ministry. Both governments endorsed the work of their economic teams and agreed to establish a bilateral trade council, and they backed an extension of agreements reached during earlier negotiations in Kuala Lumpur. Washington and Beijing had previously agreed to extend their existing trade truce by two months from its November 10 expiry, providing more time for negotiations over a broader economic agreement. On artificial intelligence, the countries agreed to establish a dialogue covering the risks and benefits associated with AI, with the next round of discussions scheduled for November, and will create a communication channel for AI-related incidents. The three-day Trump-Xi summit concluded Friday after discussions covering trade, technology and foreign policy, and Xi has since returned to Beijing, according to Chinese state media.