China and U.S. reach trade consensus in New York talks

China and the U.S. reached consensus on multiple economic and trade issues during recent New York consultations, including reciprocal tariff reductions and establishing trade councils, the Chinese Commerce Ministry announced Thursday. The eighth round of talks involved Chinese Vice-Premier He Lifeng, U.S. Treasury Secretary Scott Bessent, and Trade Representative Jamieson Greer. The two sides also held their first dialogue on artificial intelligence and agreed to extend joint arrangements from the Kuala Lumpur consultation. The agreement precedes President Xi Jinping's U.S. visit, where President Donald Trump personally received him at Joint Base Andrews. China stated it will maintain close communication on follow-up work under the bilateral consultation mechanism.