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NEW YORK (AP) — Heavy equipment maker Caterpillar is urging a stronger trade relationship between the U.S. and China on the heels of the Chinese president's visit to the U.S.

The Peoria, Ill., company, the world's largest maker of construction and mining equipment, said Friday it inked a memorandum of understanding as part of the U.S.-China Trade and Economic Forum that it hopes will support greater U.S. exports from Caterpillar in the future.

China is already one of the largest export markets for Caterpillar products, with more than $2 billion inproducts delivered there in the last five years.

Caterpillar Inc. says it "will continue to urge policymakers in both the United States and China to resolve differences in an atmosphere of mutual respect — not by threatening a trade war."

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