China is building a new rulebook for dealing with the US — tariffs are only the beginning of a much broader reset

China and the United States have established a reciprocal framework for tariff reductions on approximately $30 billion of goods from each side. They created two new boards to facilitate trading and investment discussions as a means of ongoing economic cooperation. Additionally, a dedicated dialogue on artificial intelligence (AI) issues has been initiated between the two nations. The Kuala Lumpur trade arrangement has also been extended for further negotiations.