$30-Billion Tariff Cut, AI Dialogue: Outcomes Of Trump-Xi Meet In US

China said on Saturday it had agreed with the US on a $30 billion reciprocal tariff-reduction arrangement and on launching a dialogue on AI, under an eight-point consensus reached during President Xi Jinping's visit to Washington.The two sides have also agreed to set up a trade council and extend the outcomes of earlier talks in Kuala Lumpur, the Chinese Foreign Ministry said.The agreement follows an earlier move by the world's two largest economies to extend by two months a trade truce that had been due to expire on November 10, allowing more time to work on a potentially bigger trade deal, US Treasury Secretary Scott Bessent said on Wednesday.The three-day summit between Xi and President Donald Trump, which ended on Friday, showcased personal diplomacy rather than big public breakthroughs.