According to CNBC, China said it reached an eight-point consensus with the United States that includes a $30 billion reciprocal tariff-reduction arrangement and the launch of a dialogue on artificial intelligence during President Xi Jinping's visit to Washington. The Chinese Foreign Ministry said the two sides also agreed to set up a trade council and extend the results of earlier talks in Kuala Lumpur. U.S. Treasury Secretary Scott Bessent said on Wednesday that the world's two largest economies had already extended a trade truce by two months, giving them more time to work on a potentially larger trade deal. The three-day summit between Xi and President Donald Trump ended on Friday, and Xi has since landed in Beijing, Xinhua reported on Saturday. The ministry said the two sides will hold the next AI discussions in November and create a communication channel for AI-related incidents. It also said both countries agreed to support each other in hosting the Asia-Pacific Economic Cooperation leaders' meeting and the Group of 20 summit, and that they agreed Iran should not develop nuclear weapons and that no country or entity should impose transit tolls on international waterways.