China, US agree to AI dialogue, tariff cuts on $30 billion in goods during Xi visit

SHANGHAI: The United States and China have agreed to reduce tariffs on $30 billion of goods and launch a dialogue on AI, both countries said following President Xi Jinping’s visit to Washington. The tariff reductions would apply to US exports such as agricultural goods, wood and cosmetics, as well as US imports including small appliances, toys, decorations, a White House statement said on Friday (Sep 25). “The two countries reached consensus on recommendations for more favourable tariff treatment for $30 billion of non-sensitive goods in each direction,” the White House said. The three-day summit between Xi and President Donald Trump,…