The U.S. and China agreed to lower tariffs on $30 billion worth of goods each country imports from the other and launch new talks on artificial intelligence (AI) following President Trump’s summit with Chinese President Xi Jinping. The agreements were part of an eight-point consensus reached during Xi’s three-day state visit to Washington, D.C., which ended Friday. Under the trade agreement, the two countries will reduce tariffs on products considered “noncritical,” including agricultural and energy-related goods. Treasury Secretary Scott Bessent said earlier this week that he and U.S. Trade Representative Jamieson Greer had been in New York discussing lowering those...