After weeks of tensions, China and the United States have reached a ceasefire. In a joint statement on Saturday, the countries said China would "significantly increase" purchases of US goods and services to reduce their trade imbalance. This was a top demand of the Trump administration during two days of trade talks in Washington with Chinese officials. Mnuchin's remarks echoed those by China Vice Premier Liu He, the top economic adviser to Chinese President Xi Jinping. Related: Did China make a $200 billion trade offer to the US?

Source: CNN May 19, 2018 18:42 UTC