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Foreign Media To Disclose Details Of Sino-US Economic And Trade Consultations: China Is Willing To Increase U.S. Imports By 70 Billion
Jun 11, 2018

Foreign media said that U.S. President Trump 5th with his trade advisers to discuss China's proposed imports of U.S. goods a year increase of 70 billion U.S. dollars proposal.

According to Reuters June 5, two sources said China's proposals include increasing imports of agricultural products, energy commodities and parts of manufactured goods.

U.S. Commerce Secretary Wilbur Ross met with China late last week, and the statement after the talks did not mention specific proposals or figures.

It is unclear whether the US will accept the proposal or whether it is enough to avert a trade war, the report said.

One source said that Trump was briefed on the Chinese proposal and discussed how to proceed.

According to the June 5 Report of the US Wall Street Journal website, according to people familiar with the latest progress of the talks, China has proposed that if the Trump government abandons the tariff threat, China is willing to buy U.S. agricultural products, manufactured goods and energy goods worth nearly 70 billion dollars.

Reported that in the talks held in Beijing over the weekend, China submitted a package to the negotiating team led by U.S. Commerce secretary Ross, including Chinese companies buying more U.S. soybeans, corn, natural gas, crude oil, coal and manufactured goods.

Officials in both China and the United States estimate that the package is worth nearly 70 billion dollars in the first year.

In the negotiations, the Chinese side made clear to Ross that the proposal would be voided if Washington continued its plan to impose tariffs on Chinese-made goods worth 50 billion of dollars, people familiar with the matter said.

During the talks, the Chinese negotiators also raised the question of whether the US would push Trump's promise earlier last month to save China's ZTE company from U.S. sanctions, people familiar with the matter said. The report said China's proposal would benefit states in the American agricultural region. These states helped Trump win the 2016 general election.

China has pledged to buy more U.S. soybeans, corn and other agricultural products, and has pledged to relax specific regulations and increase imports of these products, people familiar with the matter said. The Chinese team also pledged to allow state-owned enterprises to buy more U.S. natural gas, although it could take some time for U.S. companies to boost production, the report said. Beijing is targeting states such as Pennsylvania State and West Virginia State by potentially boosting China's imports of U.S. coal, people familiar with the matter said.

These states are important to the mid-term elections in the United States. The report said, but the proposal does not include the signing of the agreement. "Nothing has been finalized," one of them said. "He is referring to the Chinese proposal. "There is also a need for additional rounds of consultations between the two sides. ”

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