2018.05.2019:59:00UTC+00China Agrees to Significantly Boost U.S. Import

China has agreed to markedly boost its purchases of U.S. goods and services, the two nations announced on Saturday, but did not mention a $200 billion figure target the White House spoke of earlier.

Beijing and Washington reached an agreement to keep discussing measures under which China would import additional energy and agricultural commodities from the U.S. to settle the $335 billion annual U.S. goods and services trade deficit with the second-biggest economy in the world.

The joint statement released at the end of the intensive trade talks held in Washington did not mention whether the two countries would postpone or junk their tariff threats on billions of dollars worth of each nation's goods, which has triggered concerns of a wider trade wide and jolted financial markets.

The U.S. will also send a delegation to China to iron out the details of increased agricultural and energy exports, the countries said, without detailing its timing.

President Donald Trump has threatened to hit $150 billion worth of Chinese goods with duties to counter what his administration says is China's misappropriation of U.S. intellectual property via joint venture requirements and other policies that coerce technology transfers.

Beijing denies the allegations and has threatened equal retaliatory actions, including tariffs on some of its biggest U.S. imports, including aircraft, soybeans and autos.

Xinhua news agency, China's state-run publication, described the statement from the two governments in a report as pledging not to start a trade war against each other. While the joint communique said the two side would engage at high levels and seek to find a solution to their economic and trade issues in a proactive way, it did make a mention of tariffs.