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US-China Agree to Trade Ceasefire and AI Collaboration
The United States and China announced that they have reached agreements on a range of trade commodities that can be exchanged under preferential terms, including American agricultural products, medical devices, and non-sensitive goods imported from China. These agreements aim to isolate certain trade sectors from tariffs and broader disputes, within the framework of the new "Trade Council" between the two countries. The trade truce between Washington and Beijing has also been extended for two additional months to facilitate further negotiations on ongoing economic disagreements, with a focus on assessing China's commitment to purchase American agricultural goods and providing access to rare earth metals. The implementation of tariffs has reduced the U.S. trade deficit with China by approximately 40%, with some trade shifting to other countries, notably benefiting Mexico. These developments come as part of efforts to enhance cooperation in areas such as artificial intelligence, while emphasizing that national security issues are excluded from trade negotiations between the two nations.
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