Can AI make trades

i don't think just right of the way

With AI you can not exchange troops, provinces or resources. That also does not make the AI with each other.

But AI responds to settings in the diplomacy menu.

In diplomacy one can change own setting towards AI, e.g. from War to Peace or (from Peace) to RoW (or Shared Map) and depending on the map type, some (not every) AI reacts.

From Peace to RoW it can take one to several days, or as sayed will not happen at all, and normal AI will never grant Shared Map.

Elite-AI sometimes also grants Shared Map, and sometimes Elite-AI even change their setting to RoW or Shared Map by herself.

AI's approval to change setting from war to peace can take anywhere from a few hours to several days, depending on how long a war lasted and how much damage AI has sufferd, or, as sayed, it also will not happen at all.