U.S.-China trade statement promises big changes but offers few details

After extensive trade negotiations, Washington and Beijing said in a joint statement Saturday China will buy more American exports.

"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. "This will help support growth and employment in the United States. Both sides agreed on meaningful increases in United States agriculture and energy exports."

The statement did not specify the quantity or timeline of the increase, nor did it say whether China would be exempted from President Trump's steel and aluminum tariffs. Rather, the "United States will send a team to China to work out the details."

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