Consensus between China and US signals new phase of cooperation, says Global Times
Global Times highlights US$30 billion tariff reduction, artificial intelligence dialogue, and the challenge of fulfilling commitments
TL;DR
- Eight understandings were reached between China and the US during Xi Jinping's state visit.
- An arrangement to reduce tariffs on US$30 billion in bilateral trade was agreed upon.
- A dialogue on artificial intelligence will be established to discuss benefits and risks.
- Both countries committed to building a strategic stability relationship based on respect, equity, and reciprocity.
- An understanding on reciprocal tariff reduction and a trade council were established.
- A bilateral dialogue on artificial intelligence is set to continue in November, with a communication channel for AI-related incidents.
- Cooperation in combating drug trafficking, particularly concerning new psychoactive substances and chemical precursors, was noted.
- Both leaders agreed that Iran must adhere to its commitment not to develop nuclear weapons and opposed fees on international waterways.
- China and the US pledged mutual support for upcoming APEC and G20 leaders' meetings.
- Military officials agreed to seek a memorandum to improve communication and prevent crises.