China and the United States have reached a consensus on various economic and trade matters after their recent consultations in New York. The discussions, which marked the eighth round of economic talks between the two nations, resulted in agreements on reciprocal tariff reductions and the establishment of trade and investment councils. Furthermore, both parties agreed to extend arrangements previously settled during their consultations in Kuala Lumpur.
The talks included a significant focus on artificial intelligence, marking the first dialogue on this subject under the current bilateral economic and trade consultation framework. Leading the discussions on AI and other issues were Chinese Vice-Premier He Lifeng and US Treasury Secretary Scott Bessent.
These meetings are part of ongoing efforts to address mutual concerns and improve economic cooperation. The agreements reached highlight both countries’ commitment to maintaining an open dialogue and working collaboratively through the established economic and trade consultation mechanism.
The talks in New York underscore a continued effort by both nations to resolve trade disagreements and enhance their economic relationship. Both sides expressed an intention to keep communication lines open and further develop the arrangements agreed upon during these discussions.