China and the United States have reached consensus on several key economic and trade issues following their recent consultations held in New York. During the eighth round of discussions, representatives from both countries addressed mutual concerns, focusing on tariffs, trade, and investment cooperation.
Significant agreements were reached, including reciprocal tariff reductions and the establishment of trade and investment councils. These negotiations build upon arrangements previously agreed upon during earlier consultations in Kuala Lumpur.
For the first time, the talks included a dialogue on artificial intelligence (AI) under the bilateral economic and trade consultation mechanism. This discussion was led by Chinese Vice-Premier He Lifeng and US Treasury Secretary Scott Bessent, highlighting the increasing importance of AI in international economic relations.
Both nations have committed to maintaining communication and continuing to work on the agreed arrangements through their existing economic and trade consultation mechanism. The outcome of these talks marks a step forward in resolving some of the longstanding trade tensions between the two countries.