China to buy US$200b of additional US goods over two years

U.S. Trade Representative Robert Lighthizer said broad targets for Chinese purchases in the four areas would be released publicly. There would also be specific targets for purchases of specific products, but those would not be made public to avoid distorting markets.

WASHINGTON: China has agreed to buy $200 billion worth of additional US goods and services over the next two years as part of a phase one trade pact to be signed in early January, U.S. Trade Representative Robert Lighthizer told reporters on Friday.

As part of the agreement, Beijing committed to buy an additional $32 billion American agricultural products over two years, or roughly $16 billion a year more than the 2017 baseline of $24 billion, Lighthizer told reporters. He said Beijing would aim for another $5 billion in farm purchases each year on top of that.