US and China Agree to $30 Billion Tariff Reductions and AI Dialogue

Washington:The United States and China have reached a mutual agreement to cut tariffs on $30 billion worth of goods and initiate a dialogue on artificial intelligence (AI).According to Bahrain News Agency, the agreement was announced following Chinese President Xi Jinping's official visit to Washington last week. The tariff reductions will affect US exports such as agricultural products, timber, and cosmetics, as well as imports from China including small household appliances, toys, and decorative items.The White House stated that both nations have agreed to provide reciprocal preferential tariff treatment on the specified amount of non-sensitive goods. Additionally, China's Xinhua News Agency reported that the two countries will establish a US-China dialogue on AI, aiming to discuss the risks and benefits associated with the technology.