On Saturday, May 19 the Chinese government announced its intention to purchase more U.S. goods as part of ongoing discussion with the United States on reducing China’s bilateral trade surplus. In a statement released by U.S. and Chinese negotiating team, which included Secretary of the Treasury Steven T. Mnuchin, Secretary of Commerce Wilbur L. Ross, and United States Trade Representative Robert E. Lighthizer and Chinese State Council Vice Premier Liu He, China agreed to “significantly increase purchases of United States goods and services…[to] help support growth and employment in the United States.” The statement added that “there was a consensus on taking effective measures to substantially reduce the United States trade deficit in goods with China.” A copy of the joint press release can be found here.