Monday, May 21, 2018

Beijing Has Agreed To ‘Substantially Reduce’ America’s Trade Deficit With China

REUTERS/Jonathan Ernst
The U.S. and China have finally reached an agreement on trade, defusing rising trade war tensions, White House officials announced Saturday.
Following two days of bilateral consultations on trade, representatives from Washington and Beijing reached a consensus on trade, with the latter agreeing to take “effective measures to substantially reduce the United States trade deficit in goods with China,” a joint statement explained.
An increase in exports to China would “meet the growing consumption needs of the Chinese people and the need for high-quality economic development,” as well as “help support growth and employment in the United States,” according to the statement.
In particular, China intends to import more agricultural and energy products from the U.S. The representative from Beijing agreed to work with the U.S. government to ensure the protection of intellectual property rights.
Read the rest of the story HERE and follow link below to a related story:

‘Consensus’ Reached to Slash $370 Billion U.S. Trade Deficit with China

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