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. US Treasury Secretary Steven Mnuchin, left, and Commerce Secretary Wilbur Ross led a US team that reached consensus with China on trade. "There was a consensus on taking effective measures to substantially reduce the United States trade deficit in goods with China," the statement said. Last year, the United States had a $375.2 billion trade deficit with China, a source of frequent and bitter complaint by Trump. On Thursday, he unleashed a barrage of criticism against former US administrations for allowing Beijing to take advantage of the United States.

Source: Bangkok Post May 19, 2018 20:48 UTC