China and US Discuss Tariff Cuts Ahead of Summit

China and the United States are in talks about a reciprocal tariff reduction arrangement worth $30 billion, according to China's commerce ministry. The discussions are taking place ahead of an expected summit between Trump and Xi. China's NDRC has also met with major US companies in China to discuss the business outlook. China has expressed willingness to hold AI talks with the US despite a dispute over AI models.