US-China pact on $30B tariff cuts
The United States and China have reached an agreement that includes mutual tariff reductions on goods worth $30 billion and the initiation of a dialogue on artificial intelligence. This encompasses reciprocal tariff exemptions for non-sensitive items such as agricultural products, timber, and toys. The two sides also agreed to establish a trade council, exchange views on the risks and benefits of technology, and support hosting important international meetings. Additionally, they reaffirmed their commitment not to impose tariffs on international waterways and Iran's pledge not to develop nuclear weapons.
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