US-China Summit Yields Modest Tariff Cuts

During Xi Jinping's state visit to Washington, the US and China announced tariff cuts on $30 billion of non-sensitive goods each way, a new AI safety dialogue, and a two-month extension of their trade truce due to expire November 10. The truce, struck in Busan last October, ended a year of duelling tariffs, export controls and rare-earth restrictions.