China and the United States reached 10 outcomes in their latest economic and trade talks, including reciprocal tariff cuts on $30 billion worth of imports and the establishment of an artificial‑intelligence (AI) dialogue, the Chinese Ministry of Commerce (MOFCOM) said on Monday. The talks were held in New York and Washington from September 20 to 23, ahead of a summit between President Xi Jinping and President Donald Trump.
Under the agreement, both sides will lower tariffs on about 90 % of the products in the $30 billion of goods they import from one another. The United States will reduce duties on Chinese imports such as toys, home appliances, baby products, and kitchen and bathroom items, while China will cut tariffs on U.S. goods including agricultural products, personal‑care items, medical devices and coal. The reductions will take effect simultaneously after each side completes domestic legal procedures.
The talks also saw the creation of a China‑US Board of Trade, which will oversee two‑way trade and include an agricultural working group to address issues in that sector. The board will provide a platform to expand cooperation and reduce trade problems. Coal imports from the U.S. will be incorporated into the tariff‑reduction framework, potentially easing China’s coal imports in 2027 and 2028.
A key highlight was the launch of an AI dialogue under the trade consultation mechanism. The first session focused on the risks and benefits of AI, and the parties agreed to hold the next meeting before the end of November and to set up a communication channel for AI‑related incidents.
Other outcomes included agreements to increase direct passenger flights, to review U.S. financial institutions’ applications to operate in China, to extend the Kuala Lumpur trade arrangement until January 2027, and to cooperate on the U.S. fentanyl crisis. The U.S. and Chinese militaries also agreed to sign a memorandum of understanding on crisis communication and prevention.
