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Saturday, Sep 26, 2026

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China Endorses US Wording Against Tolls on International Waterways in Joint Statement↩︎
topics 🌐 Geopolitics📈 Global Markets🛢️ Commodity🏦 US Markets🇺🇸 US Politics tags PoliticsUS Foreign PolicyMaritimeWorldChina keywords Xi JinpingAPECTrump

The US and China issued a joint statement after Xi Jinping's White House summit in which Beijing endorsed wording that no country or institution can be allowed to impose tolls on international waterways, language that bears directly on the Strait of Hormuz, and agreed that Iran must honor its commitment not to develop nuclear weapons. The statement also confirms the $30 billion reciprocal tariff reduction, an official AI dialogue that will meet by November, a bilateral communication channel for AI incidents and the lease of two giant pandas to Zoo Atlanta.

China's readout lists eight deliverables, including building a constructive relationship of strategic stability based on respect, fairness and reciprocity, mutual attendance at the APEC summit in Shenzhen in November and the G20 in Miami in December, counternarcotics cooperation and a recall of the two countries' World War II alliance. The tariff changes are recommendations for now and are not yet in force. China also committed to import at least 10 million metric tons of US coal in 2027 and 2028, though Beijing did not confirm that pledge in its own statement, and rare earths remain under discussion.

The two sides remain split on terminology. The White House said both leaders agreed to use super intelligence instead of artificial intelligence, but China's foreign ministry statement uses AI; asked about the difference, the ministry said China values the US position and respects the US terminology. Trump said Taiwan was not discussed extensively, though Xi's readout says he urged Washington to oppose Taiwanese independence and handle the issue prudently. Trump also ruled out integrating US AI efforts with China, arguing the US leads significantly and, in his words, "When you're leading, you don't open it up to each other."

Image via @reuters on X
Continues from Thursday, Sep 24
US and China Agree to $30 Billion Tariff Cuts Each Way After Trump-Xi Summit
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