ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Trade war

US and China agree to 'substantially' reduce trade deficit: statement

Beijing will increase purchases but avoids $200bn target figure

WASHINGTON -- The U.S. and China issued a joint statement on Saturday regarding the two-day trade consultations that ended on Friday. The two sides agreed on "substantially" reducing the trade imbalance, but fell short of announcing a target figure.

"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," it added.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more