WASHINGTON: China would possibly buy up to $200 billion value of American goods below intense pressure from the Trump administration to reduce its huge trade deficit with the US, a media report stated lately, amid a round of high-level trade talks between the sector's two biggest economies.
The US has threatened to impose 25 in line with cent price lists on up to $150 billion in Chinese goods while China has centered $50 billion in American exports.
The two international locations have now not but carried out their tariff increases to reach a negotiated agreement.
A high-level Chinese delegation led by Vice Premier Liu He is recently in Washington for trade negotiations with the US. The two-day talks would proceed till Friday.
Liu referred to as on US President Donald Trump on the White House the day past.
"Chinese negotiators are preparing to offer the administration a deal to buy up to $200 billion worth of American goods, which would allow Trump to claim victory in his campaign to reduce the trade deficit with China and rebalance America's trade relationship with its biggest economic rival, according to people briefed on the deliberations," The New York Times reported.
The Chinese guarantees could be in large part illusory, economists cautioned, given the structural hurdles in China to buying extra American exports and the sheer quantity of goods the United States would have to produce to meet Beijing's call for, the day-to-day reported.
But in Beijing, Chinese Foreign Ministry spokesman Lu Kang stated the "rumours are false" and the "consultations are indeed still in progress and the talks are constructive."
Lu also stated the verdict to drop the sorghum probe must now not be "over-interpreted."
In a readout of the most recent round of trade negotiations, the White House stated the US officials conveyed the President's transparent function for a fair-trading dating with China.
The US delegation is led by Treasury Secretary Steven Mnuchin. It also includes Commerce Secretary Wilbur Ross and US Trade Representatives Robert Lighthizer.
"The United States officials and the Chinese delegation also participated in a meeting with President Donald J Trump at the White House. The two sides agreed to continue the discussions on Friday," the White House stated.
According to The New York Times, below the deal being mentioned, China would pledge to shop for considerably extra American goods, together with agricultural products like soybeans, in addition to semi-conductors and herbal gas.
"That could theoretically reduce its trade surplus with the United States - which hit $372.5 billion last year - by up to $200 billion, though the real number would most likely be lower," it stated.
In return, China is asking the US to set aside price lists and funding restrictions it has threatened towards Chinese firms, the report stated.
Meanwhile, the US Congress is having a look set to advance a bill that may give the US greater power to dam deals between American and Chinese firms that would chance nationwide safety, The Wall Street Journal stated.
The US, the sector's biggest economic system, has a trade deficit of almost $500 billion with the sector's second biggest economic system China.
The US has threatened to impose 25 in line with cent price lists on up to $150 billion in Chinese goods while China has centered $50 billion in American exports.
The two international locations have now not but carried out their tariff increases to reach a negotiated agreement.
A high-level Chinese delegation led by Vice Premier Liu He is recently in Washington for trade negotiations with the US. The two-day talks would proceed till Friday.
Liu referred to as on US President Donald Trump on the White House the day past.
"Chinese negotiators are preparing to offer the administration a deal to buy up to $200 billion worth of American goods, which would allow Trump to claim victory in his campaign to reduce the trade deficit with China and rebalance America's trade relationship with its biggest economic rival, according to people briefed on the deliberations," The New York Times reported.
The Chinese guarantees could be in large part illusory, economists cautioned, given the structural hurdles in China to buying extra American exports and the sheer quantity of goods the United States would have to produce to meet Beijing's call for, the day-to-day reported.
But in Beijing, Chinese Foreign Ministry spokesman Lu Kang stated the "rumours are false" and the "consultations are indeed still in progress and the talks are constructive."
Lu also stated the verdict to drop the sorghum probe must now not be "over-interpreted."
In a readout of the most recent round of trade negotiations, the White House stated the US officials conveyed the President's transparent function for a fair-trading dating with China.
The US delegation is led by Treasury Secretary Steven Mnuchin. It also includes Commerce Secretary Wilbur Ross and US Trade Representatives Robert Lighthizer.
"The United States officials and the Chinese delegation also participated in a meeting with President Donald J Trump at the White House. The two sides agreed to continue the discussions on Friday," the White House stated.
According to The New York Times, below the deal being mentioned, China would pledge to shop for considerably extra American goods, together with agricultural products like soybeans, in addition to semi-conductors and herbal gas.
"That could theoretically reduce its trade surplus with the United States - which hit $372.5 billion last year - by up to $200 billion, though the real number would most likely be lower," it stated.
In return, China is asking the US to set aside price lists and funding restrictions it has threatened towards Chinese firms, the report stated.
Meanwhile, the US Congress is having a look set to advance a bill that may give the US greater power to dam deals between American and Chinese firms that would chance nationwide safety, The Wall Street Journal stated.
The US, the sector's biggest economic system, has a trade deficit of almost $500 billion with the sector's second biggest economic system China.
Here's why China may buy US goods worth $200 billion
![Here's why China may buy US goods worth $200 billion]()
Reviewed by Kailash
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May 18, 2018
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