China and US reach 'consensus' on reducing trade gap

China commits to ‘significantly increase purchases’ of US products but no mention of $200bn cut to its trade surplusThe United States and China have reached consensus on measures to “substantially” reduce the US trade deficit with Beijing, but there was no mention of the $200bn target previously touted by the White House.The joint US-China statement on Saturday followed talks in Washington led by US treasury secretary, Steven Mnuchin, and China’s state council vice-