China agrees to buy ‘significantly’ more from the U.S.

The United States and China said Saturday that two days of “constructive” talks between American and Chinese officials in Washington had led to an agreement for China to buy more goods and services — including “meaningful increases in United States agriculture and energy exports” — as the two countries work to defuse a brewing trade war.

But a joint statement released by the White House did not contain a specific target for reducing the $375 billion trade deficit between the two countries, suggesting the White House had not secured the $200 billion reduction that senior Trump administration officials had said was forthcoming.

The joint statement said the United States would dispatch a team to China to work out the details, which also may include expanded trade in manufactured goods and stronger “cooperation” in enforcement of intellectual property protections. The statement, which had been expected Friday evening after the talks ended, said that the goal is to “substantially reduce the United States trade deficit in goods with China.”

https://www.washingtonpost.com/news/business/wp/2018/05/19/china-agrees-to-buy-significantly-more-u-s-goods-and-services-in-bid-to-ease-trade-tensions-according-to-joint-statement/?noredirect=on&utm_term=.4fff22e946bc

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