Donald Trump and Xi Jinping reached an eight-point consensus after a three-day summit. China's foreign ministry said it includes a $30 billion reciprocal tariff-reduction arrangement; the sides also agreed to extend their trade truce and hold formal AI talks in November.
The AI dialogue will cover potential benefits and risks, with a planned communication channel for incidents involving the technology. Xi said AI should remain under human control and serve people's well-being, and argued the countries can avoid the “Thucydides Trap” through communication and cooperation.
The truce extension is for two months and pushes its expiry beyond the previously scheduled Nov. 10 deadline, Treasury Secretary Scott Bessent said, giving both sides more time to pursue a broader deal. The agreement also backs a trade council, extends outcomes of earlier Kuala Lumpur negotiations, calls for Iran to honor its commitment not to develop nuclear weapons and says international waterways should not be subject to tolls.
