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Sunday, May 20, 2018

China And US Make An Agreement On Imports

The two countries said on Saturday, China has agreed to significantly increase its purchases of U.S. goods and services. They made no mention of a $200 billion target the White House had touted earlier. Beijing and Washington agreed they would keep talking about measures under which China would import more energy and agricultural commodities from the United State. This in order to close the $335 billion annual U.S. goods and services trade deficit with China. A joint statement issued at the conclusion of intensive trade talks in Washington did not indicate whether the two countries would delay or drop their tariff threats on billions of dollars worth of each country’s goods. That threat has sparked fears of a wider trade war and roiled financial markets. “There was a consensus on taking effective measures to substantially reduce the United States’ trade deficit in goods with China,” the joint 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.” This video was produced by YT Wochit News using