Joint Statement of the United States and China Regarding Trade Consultations

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THE WHITE HOUSE

Office of the Press Secretary

FOR IMMEDIATE RELEASE

May 19, 2018

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*Joint Statement of the United States and China Regarding Trade Consultations*

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At the direction of President Donald J. Trump and President Xi
Jinping, on May 17 and 18, 2018, the United States and China engaged
in constructive consultations regarding trade in Washington, D.C. The
United States delegation included Secretary of the Treasury Steven T.
Mnuchin, Secretary of Commerce Wilbur L. Ross, and United States Trade
Representative Robert E. Lighthizer. The Chinese delegation was led by
State Council Vice Premier Liu He, Special Envoy of President Xi.

There was a consensus on taking effective measures to substantially
reduce the United States trade deficit in goods with China. 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 will help support
growth and employment in the United States.

Both sides agreed on meaningful increases in United States agriculture
and energy exports. The United States will send a team to China to
work out the details.

The delegations also discussed expanding trade in manufactured goods
and services. There was consensus on the need to create favorable
conditions to increase trade in these areas.

Both sides attach paramount importance to intellectual property
protections, and agreed to strengthen cooperation. China will advance
relevant amendments to its laws and regulations in this area,
including the Patent Law.

Both sides agreed to encourage two-way investment and to strive to
create a fair, level playing field for competition.

Both sides agreed to continue to engage at high levels on these issues
and to seek to resolve their economic and trade concerns in a
proactive manner.

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