Sunday, May 20, 2018

China to buy 'significantly' more US goods and services after trade talks

China has agreed to purchase more U.S. goods and services following a second day of trade talks between Washington and Beijing on Friday.

In a joint statement issued Saturday, the U.S. and China said "There was a consensus on taking effective measures to substantially reduce the United States trade deficit in goods with China."

"To meet the growing consumption needs of the Chinese people and the need for high-quality economic development, China will significantly increase purchases of United States goods and services," the statement reads.

According to The Wall Street Journal, Chinese negotiators resisted demands from Washington to cut the trade deficit between the two countries in half.

China was also cautious about committing to specific purchases of U.S. goods and services.

Senior U.S. officials - including Treasury Secretary Steven Mnuchin , U.S. Trade Representative Robert Lighthizer and Commerce Secretary Wilbur Ross - have been participating in talks with Chinese officials about a potential trade deal as the countries seek to stave off a trade war.

President Trump raised doubts this week about a potential trade deal with China, saying that Beijing had "Become very spoiled" in its past dealings with the U.S. "You've never seen people come over from China to work on a trade deal. Now, will that be successful? I tend to doubt it," Trump told reporters during a meeting with the NATO secretary-general.

http://thehill.com/policy/international/388466-white-house-china-will-significantly-increase-purchase-of-us-goods 

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