The United States and China released a joint statement after holding consultations on trade. There was a consensus on taking effective measures to substantially reduce the United States trade deficit with China. This will entail an increase in the purchase of goods and services from the United States, and an increase in US agriculture and energy exports. 'Both sides agreed to continue to engage at high levels on these issues and to seek to resolve their economic and trade concerns in a proactive manner', the statement concluded. The talks averted planned 'Section 301' tariffs that Washington was preparing to levy on Beijing. Nevertheless, the decision does not affect a separate set of steel and aluminium tariffs that the US has imposed on most countries, including China.