Xi-Trump summit advances China-US stability with trade and AI deals

The recent summit between Chinese President Xi Jinping and US President Donald Trump has led to new progress in strategic stability between the two countries, Chinese Foreign Minister Wang Yi said. Xi visited the United States from September 23 to 25 and held a series of meetings with Trump, in what was their second summit since the American leader’s visit to Beijing in May this year.

Summing up the visit, Wang said the two presidents had a candid and in-depth exchange of views in a friendly atmosphere of mutual respect on major issues linked to bilateral ties and the wider global situation. Official media reported on Sunday that Wang described the leaders’ engagement as an important step in keeping China-US relations stable and moving forward.

Wang said the two heads of state have maintained close exchanges, including three in-person meetings and five phone conversations. He said this pattern of interaction, marked by mutual respect and sincerity, has become the most valuable strategic asset in China-US relations.

On economic ties, Wang said Xi had stressed that a stable China-US economic and trade relationship requires both expanding the list of cooperation and shortening the list of problems. He said the US side should treat Chinese companies fairly, resolve problems through dialogue and negotiations, and promote the sustained, stable and positive development of bilateral ties.

During Xi’s visit, the two countries agreed to set up a dialogue on artificial intelligence-related incidents, operationalise boards of trade and investment, and put in place a USD 30 billion reciprocal tariff reduction arrangement. The White House fact sheet said that, under the Board of Trade, the two sides reached consensus on recommendations for more favourable tariff treatment for USD 30 billion of non-sensitive goods in each direction.

According to separate statements issued in Washington and Beijing, the two leaders also agreed that Iran can never have a nuclear weapon and that no country or institution can be allowed to impose tolls on international waterways. China’s Foreign Ministry said the two sides also agreed to sign a memorandum of understanding on strengthening crisis communications and preventing crises between the two militaries.

On artificial intelligence, the leaders agreed to establish a China-US AI dialogue to exchange views on AI-related risks and benefits, with the next round to be held in November. The Chinese foreign ministry said a communication channel for AI-related incidents will also be set up. Wang said the two heads of state agreed to make good use of AI dialogue mechanisms and jointly prevent the misuse and abuse of AI. The White House fact sheet said the two leaders also agreed to use the term super intelligence rather than artificial intelligence to describe the applicable emerging technologies.

Trump also urged Xi to increase production of refined petroleum products to stabilise global supply. On fentanyl, Wang said the abuse problem in the United States is not caused by China and that Beijing has always acted with the utmost goodwill and made every effort to assist Washington in addressing it. He added that the two heads of state had asked law enforcement agencies in both countries to continue strengthening cooperation and jointly combat transnational crime.

Overall, the summit produced agreements on trade, AI, crisis communication and wider security issues, while both sides also reviewed concerns ranging from economic ties to law enforcement cooperation, according to Wang and official statements from Beijing and Washington.