China and the United States have reached consensus on key economic and trade matters following their latest round of consultations in New York. The discussions resulted in agreements on reciprocal tariff reductions and the establishment of trade and investment councils, marking significant steps in economic collaboration between the two nations.
This eighth round of economic and trade consultations focused on issues of mutual concern, where representatives from both countries engaged in detailed talks. The dialogue extended previous arrangements made during consultations in Kuala Lumpur, showing continuity in their cooperative efforts.
A notable development in these talks was the initiation of the first dialogue on artificial intelligence under the bilateral economic and trade consultation mechanism. This session was led by Chinese Vice-Premier He Lifeng and US Treasury Secretary Scott Bessent, highlighting the growing importance of AI in trade discussions.
Both sides have committed to maintaining communication and further developing the agreed arrangements through their existing consultation channels. This ongoing dialogue underscores a shared commitment to addressing complex economic challenges and fostering a collaborative trade relationship.
