US, China agree on tariff cuts for $30 billion in goods

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USA: The United States and China have announced a deal on a bilateral arrangement to cut tariffs on $30 billion worth of non-sensitive goods from both sides

It was set up after a three-day trip to Washington by Chinese President Xi Jinping. The deal was one of the understandings that emerged between Xi and US President Donald Trump.

Only some products will be subject to the tariff measures – US agricultural exports, seafood, cosmetics and wood products, for example – and, at the same time, some Chinese exports, such as small appliances, decorations and toys, will benefit from preferential tariffs.

The countries also committed to creating a new China-US discussion on artificial intelligence and the related risks and benefits.

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November is on the horizon for another round of AI talks.

Furthermore, the two parties committed to setting up a communication mechanism on incidents related to AI and to carry on the efforts of military crisis communication.

China and the US are also holding talks over supply issues related to rare earths and other critical minerals.

The deals come after months of negotiations between the world’s two biggest economies over trade, technology and other issues.

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