The News – Capital Media
The News – Capital Media
  • US and China pledge work toward easing trade tensions

  • The United States and China have agreed to take measures to "substantially reduce" America's massive trade deficit with China. While the Trump administration failed to get the Chinese to commit to a specific numerical goal, the three-day talks that ended Saturday may have helped to ease tensions at least slightly between the world's two biggest economic powers. In recent months the two have threatened to impose punitive tariffs on billions of dollars in each other's exports.

, White House chief economic adviser Larry Kudlow speaks during a television interview outside the West Wing of the White House, in Washington, Friday, May 18, 2018. (AP Photo/Carolyn Kaster)

20 of May 2018 04:15:59

WASHINGTON (AP) — The United States and China have agreed to take measures to "substantially reduce" America's massive trade deficit with China.

While the Trump administration failed to get the Chinese to commit to a specific numerical goal, the three-day talks that ended Saturday may have helped to ease tensions at least slightly between the world's two biggest economic powers. In recent months the two have threatened to impose punitive tariffs on billions of dollars in each other's exports.

In a joint statement, Beijing committed to "significantly increase" its purchases of American goods and services, saying that the increase would "meet the growing consumption needs of the Chinese people and the need for high-quality economic development."

The two countries also agreed on "meaningful increases" of U.S. agriculture and energy exports.


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