Global Markets
Home›Global Markets›Trade & Tariffs›Xi-Trump summit adds AI dialogue alongside tariff and…
Xi-Trump summit adds AI dialogue alongside tariff and trade steps
SCMP Economy reports the sides also agreed on recommendations for more favourable tariff treatment for US$30 billion of non-sensitive goods in each direction.
The Xi-Trump summit, which ended after President Xi Jinping’s three-day visit to Washington, may be more important for stabilising US-China relations and creating space for further negotiations than for immediate trade outcomes, analysts said, with a new dialogue on artificial intelligence highlighted as a key development.
According to SCMP Economy, the two sides agreed on recommendations for more favourable tariff treatment covering US$30 billion worth of non-sensitive goods in each direction under a newly established Board of Trade, along with steps including China buying American coal.
SCMP Economy also reported that the leaders established a “super intelligence” dialogue, agreed to continue working on US concerns over China’s rare earth export controls, and that Washington urged Beijing to increase production of refined petroleum products to stabilise global supply and to curb the flow of fentanyl precursors.