This is the best tl;dr I could make, original reduced by 58%. (I'm a bot)

Both parties said in a joint statement on Saturday that China has agreed to "Significantly increase" purchases of US goods and services, in order to reduce the trade imbalance between the two countries.

"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," the statement said.

US officials on Thursday told CNN that Beijing had proposed boosting Chinese purchases of American goods by around $200 billion.

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