China and the US agreed on a $30 billion reciprocal tariff-reduction arrangement and AI dialogue, China’s foreign ministry said. Talks will cover AI risks and benefits, with the next round set for November; the sides also agreed to a channel for AI-related incidents.
The ministry said the eight-point consensus also provides for a trade council and an extension of outcomes from earlier Kuala Lumpur talks. Separately, US Treasury Secretary Scott Bessent said Wednesday the two countries had extended their trade truce by two months; it was due to expire on November 10, allowing more time to work on a potentially bigger trade deal.
The ministry also said the sides would support each other in hosting the APEC leaders’ meeting and G20 summit, with both leaders signalling they intend to attend the other’s gathering. It said they agreed Iran should fulfil its commitment not to develop nuclear weapons and that no country or entity should impose transit tolls on international waterways.
