WASHINGTON - The United States and China said Saturday they had reached consensus on measures to "substantially" reduce the US trade deficit with Beijing by "significantly" increasing its purchases of US goods, but offered few details. "There was a consensus on taking effective measures to substantially reduce the United States trade deficit in goods with China," the statement said. "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." Last year the United States had a $375.2 billion trade deficit with China, a source of frequent and bitter complaint by President Donald Trump. The statement Saturday said some details would be worked out in further talks in Beijing.

Source: Bangkok Post May 19, 2018 19:41 UTC