Dear Focus Reader,

This week, the United States and China released reciprocal lists of roughly $30 billion in goods that could receive reduced tariff treatment under the U.S.-China Board of Trade, following Presidents Donald Trump and Xi Jinping's meeting in Washington last week. The lists cover U.S. exports including agricultural products, medical equipment, timber and coal, and Chinese exports including household goods, toys and other consumer products. Any tariff reductions will still need to be determined and implemented through each country's domestic processes.

The announcement advances the "30-for-30" framework established earlier this year. U.S. Trade Representative Jamieson Greer said the recommendations could provide "more favorable tariff treatment in the future." The two sides also released working procedures for the Board of Trade, which call for officials to meet at least quarterly and provide a mechanism for potentially expanding the arrangement to additional products.

Meanwhile, days after agreeing with Xi to establish an AI dialogue and a communication channel for AI-related incidents, Trump ruled out a joint U.S.-China venture to develop the technology, saying it could mean "giving a lot of secrets" to China.

Still, Chinese Ambassador to the United States Xie Feng called for the two countries to cooperate on AI risks and "make full use of the China-U.S. AI Dialogue." Xie confirmed that the first dialogue was held in September and that another round is planned for November, following the two countries' agreement during Xi's visit last week to establish a communication channel for AI-related incidents.

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