China and U.S. reach agreements in eighth round of trade talks

China and the United States have reached agreements on several issues following the eighth round of economic and trade talks held in New York. According to He Yadong, a spokesperson for the Chinese Ministry of Commerce, the discussions were guided by principles of mutual respect, peaceful coexistence, and mutually beneficial cooperation.

Key areas of agreement include the implementation of previous trade and economic consultations, a mutual tariff reduction arrangement, and the establishment of a trade council and an investment council. Additionally, the parties agreed to postpone the joint arrangement for trade and economic consultations in Kuala Lumpur.

A significant development during these talks was the first dialogue on artificial intelligence between the two nations' lead negotiators: Chinese Vice Premier He Lifeng and U.S. Treasury Secretary Scott Bessent. China has indicated it will maintain close communication with the U.S. regarding follow-up actions under the China-U.S. economic and trade consultation mechanism.