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U.S., China Agree to First Trade Steps Under 100-Day Plan


(Ayesha Rascoe & Michael Martina – Reuters)

The United States and China have agreed to take action by mid-July to increase access for U.S. financial firms and expand trade in beef and chicken among other steps as part of Washington’s drive to cut its trade deficit with Beijing.

The deals are the first results of 100 days of trade talks that began last month, when a meeting between U.S. President Donald Trump and Chinese President Xi Jinping proved far more friendly than had been expected after last year’s U.S. presidential campaign, but the immediate impact was unclear.

“This will help us to bring down the deficit for sure,” U.S. Commerce Secretary Wilbur Ross said at media briefing in Washington. “You watch and you’ll see.” Click here to read more.

Related: Initial Results of the 100-Day Action Plan of the U.S.-China Comprehensive Economic Dialogue (DoC)