WASHINGTON — China will increase its purchase of American goods and services in order to reduce the multibillion-dollar trade imbalance with the United States, the two countries said in a joint statement Saturday. Trump administration officials had said during negotiations this week that China was prepared to make up to $200 billion in additional purchases. Notably absent from Saturday’s announcement were any dollar figures — or a sense of the scale of the agreed-upon increases. “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,” said the statement. “This will help support growth and employment in the United States.”

Source: New York Times May 19, 2018 18:25 UTC