China Unveils Eight-Point Economic Consensus Following Xi’s Washington Visit

China has released new details of a broad economic understanding reached with the United States following President Xi Jinping’s three-day visit to Washington, saying the two countries agreed on an eight-point consensus covering tariffs, artificial intelligence, trade cooperation and wider international engagement.

According to China’s Foreign Ministry, the framework includes a reciprocal tariff-cutting arrangement valued at $30 billion and the establishment of a new bilateral trade council to oversee commercial cooperation. Beijing said the understanding also advances commitments made during previous negotiations held in Kuala Lumpur, signalling an effort to build continuity into the world’s most consequential economic relationship.

The announcement follows an earlier decision by Beijing and Washington to extend their existing trade truce by another two months, delaying its expiry until after November 10. The extension gives negotiators additional time to pursue a broader commercial agreement, a move that US Treasury Secretary Scott Bessent said was intended to preserve momentum in ongoing talks.

Xi concluded his visit on Friday before returning to Beijing, according to Chinese state media, after holding extensive discussions with US President Donald Trump on trade, technology and international affairs.

Beijing described the tariff agreement as one of the summit’s most significant economic outcomes, saying both governments had agreed to reduce tariffs on selected goods through a reciprocal arrangement worth approximately $30 billion. While Chinese officials confirmed the value of the package, they did not immediately publish a detailed breakdown of the products or sectors covered.

The proposed trade council is expected to serve as a permanent mechanism for resolving commercial disputes, monitoring implementation of agreements and maintaining regular dialogue between officials and businesses from both countries. Chinese authorities said the body would complement earlier bilateral consultation frameworks rather than replace them.

Beyond trade, the summit marked a notable expansion of US-China cooperation into artificial intelligence. Both governments agreed to jointly examine the opportunities and risks created by rapidly advancing AI technologies and to establish a separate communication mechanism for handling incidents involving the technology. The next round of AI discussions is expected in November.

China’s Foreign Ministry also welcomed Washington’s reported decision to use the term “super intelligence” in parts of the dialogue, saying both sides should deepen exchanges and identify areas of common ground as technological development accelerates. The terminology reflects Beijing’s account of the discussions, while US officials have not publicly elaborated on the language used during the summit.

The two leaders also agreed to strengthen coordination ahead of major international gatherings, including meetings of the Asia-Pacific Economic Cooperation (APEC) forum and the Group of 20 (G20). Chinese officials said Xi and Trump are expected to participate in events hosted by each other’s countries, underscoring an effort to sustain high-level diplomatic engagement beyond bilateral visits.

International security also featured prominently in the talks. According to China’s Foreign Ministry, both governments agreed that Iran should continue adhering to its commitment not to develop nuclear weapons and jointly opposed the introduction of transit fees on international waterways by countries or other entities. Those positions were presented by Beijing as areas of shared understanding between the two leaders.

Chinese Foreign Minister Wang Yi described the Washington meeting as a significant moment in China-US relations, saying the discussions had strengthened bilateral ties and could contribute to international peace and development. Meanwhile, the US Embassy in Beijing had not responded to Reuters’ request for comment on the details released by the Chinese government.

The latest understanding does not amount to a comprehensive trade treaty, and many longstanding disagreements over industrial policy, export controls and strategic competition remain unresolved. Yet the decision to extend the trade truce, establish new dialogue mechanisms and broaden cooperation into emerging technologies suggests that both Beijing and Washington are attempting to manage rivalry through sustained engagement rather than renewed economic confrontation.