U.S. says China acknowledged goal of reducing bilateral trade deficit

China acknowledged a shared goal of reducing the trade deficit with the United States during day-long talks, the U.S. Treasury said on Wednesday.

In a brief statement after the U.S.-China Comprehensive Economic Dialogue, U.S. Treasury Secretary Steven Mnuchin and Commerce Secretary Wilbur Ross offered few details of the talks. There was no sign of agreement on major issues involving trade and U.S. demands that China open its markets more to American companies.

"China acknowledged our shared objective to reduce the trade deficit which both sides will work cooperatively to achieve," the statement said.

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