WASHINGTON (AP) — Just-ended U.S.-China trade talks in Washington have produced a commitment by Beijing to “significantly increase” its purchases of Americans goods and services.
And both countries have agreed on “meaningful increases” in U.S. exports of agriculture and energy products.
That’s according to a joint statement from the world’s two biggest economic powers. But it provides no dollar amounts and doesn’t say what it might mean in terms of reducing America’s massive trade deficit with China.
The statement also says the two sides agreed to expand trade in manufactured goods and services.
The U.S. will send a team to China to work out further details.
Both countries have agreed on the need to take what they call “effective measures” to reduce America’s trade deficit, and to strengthen cooperation on protecting intellectual property.
This article provided by NewsEdge.