China Agrees to Buy More U.S. Goods in Hopes of Alleviating Trade Tensions

China is agreeing to purchase more U.S. goods in an effort to alleviate trade tensions between the world’s largest economies.

In a joint statement today, the U.S. and China said there was a consensus on taking steps to reduce the trade deficits between the two countries.

China reportedly resisted demands from Washington to cut trade deficits in half, and was hesitant to commit to purchasing more U.S. goods.