April 8, 2017 11:03 AM

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US, China agree to pursue '100-day plan' for reducing trade deficit

US President Donald Trump and his Chinese counterpart Xi Jinping have agreed to pursue a '100-day plan' aimed at reducing the US trade deficit with China. <br/><br/>The two leaders held their first summit at Trump's Mar-a-Lago retreat in the southern US state of Florida during last two days. Mr Trump said, he is seriously concerned because China's economic and trade policies are threatening US jobs and exports. <br/><br/>US Commerce Secretary Wilbur Ross later told reporters that the presidents agreed to the plan to correct the trade imbalance. It includes the boosting of US exports to China. Ross attended the summit talks.<br/><br/>Trump and Xi also agreed to adopt the US-China Comprehensive Dialogue. It will replace the Strategic and Economic Dialogue. The 2 presidents will oversee the new framework. It is designed to cover 4 fields. They include law enforcement and cyber security, as well as the economy.<br/><br/>Regarding North Korea, the Presidents stated again that they will boost cooperation to fully implement UN Security Council resolutions against the country. Pyongyang has repeatedly engaged in provocative acts, including a ballistic missile launch just days ahead of the summit. <br/><br/>Trump told Xi that the US will take unilateral action if China refuses to strengthen sanctions against North Korea.<br/><br/>As for China's maritime activities in the East and South China seas, Trump stressed the importance of observing international rules. After the summit, US Secretary of State Rex Tillerson held a news conference. He said Trump told Xi toward the end of their Thursday dinner that the US military had fired cruise missiles against a Syrian government airfield in response to Syria's use of chemical weapons. Tillerson said Xi told Trump that he understood the US reaction, given the deaths of children.

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