Another big victory for Trump. China has agreed to slash $370 billion in their trade imbalance with the US. This was confirmed via a joint statement between the US and China. Far more important news than the stupid limey royal wedding.
In a joint statement released Saturday, the United States and China announced that a “consensus” was reached to “substantially reduce” the $370 billion trade imbalance between the two countries.
“There was a consensus on taking effective measures to substantially reduce the United States trade deficit in goods with China,” the joint statement said, adding, “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.”
JUST IN: In joint statement with the US, China says it will “significantly increase purchases of United States goods and services” to “help support growth and employment in the United States.”https://t.co/vpyWbVRRy9 pic.twitter.com/OZ0CU8vqPJ
— CNBC Now (@CNBCnow) May 19, 2018
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Trade deciets with China ballooned under the Clinton, Bush and Obama regimes. Thankfully, we have someone now who put a stop to it.