US and Chinese companies sign contracts worth $9bn during Trump visit

US President Donald Trump with Chinese President Xi Jinping

US and Chinese companies have signed business deals the two sides say are valued at $9bn during a visit by American leader Donald Trump, in a move aimed at blunting criticism of Beijing’s trade practices.

No details have been released over the 19 agreements signed today at a ceremony attended by US commerce secretary Wilbur Ross.

Such contract signings are a fixture of visits by foreign leaders to Beijing and often involve agreements the Chinese side saved for the event to showcase the country’s importance as a market.

Mr Trump has made narrowing the multibillion-dollar US trade deficit with China a priority for his administration. He is due to hold talks with Chinese president Xi Jinping later.

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