US and China strike $42.6 billion tariff deal amid high-stakes summit

The US and China have reached a reciprocal tariff reduction agreement valued at $42.6 billion.

The deal covers non-sensitive goods, including US agricultural and medicinal products.

This agreement is one of two concrete outcomes from China’s President Xi Jinping’s visit to Washington, D.C.

Additionally, the two countries have agreed to begin a bilateral dialogue on artificial intelligence.

US President Donald Trump has stated, however, that American technology will not be integrated with China’s.