United States and China officials have agreed this weekend to take steps to reduce the U.S. trade deficit, the White House said Saturday. “There was a consensus on taking effective measures to substantially reduce the United States trade deficit in goods with China,” the White House said, in what it described as a joint statement with China. The White House also said next steps would include the U.S. sending a team to China to work out the details. After the White House announcement, Senate Minority Leader Chuck Schumer suggested the agreement falls short on protecting America’s intellectual property. A White House official said China had offered to work to cut its trade deficit with the U.S. by $200 billion, while stressing that any details remained unclear.

Source: Fox News May 19, 2018 19:34 UTC