China offers to reduce its trade surplus with the U.S. to zero by 2024
- 5 years ago
China has offered to reduce its trade surplus with the U.S. to zero by the year 2024,... which stood at 323 billion U.S. dollars last year.
According to Bloomberg, Beijing proposed to increase U.S. imports by more than 1 trillion dollars over the next 6 years.
The move is seen as China's effort to resolve its trade conflict with the U.S., with Washington demanding that China take measures to fix its trade imbalance between the two countries.
U.S. President Donald Trump and Chinese President Xi Jinping held a meeting in Argentina last month and agreed to a 90-day cease-fire of their trade war.
Washington and Beijing began vice-ministerial level negotiations in Beijing last week.
More negotiations are to follow as China's vice premier is set to visit Washington at the end of this month.
According to Bloomberg, Beijing proposed to increase U.S. imports by more than 1 trillion dollars over the next 6 years.
The move is seen as China's effort to resolve its trade conflict with the U.S., with Washington demanding that China take measures to fix its trade imbalance between the two countries.
U.S. President Donald Trump and Chinese President Xi Jinping held a meeting in Argentina last month and agreed to a 90-day cease-fire of their trade war.
Washington and Beijing began vice-ministerial level negotiations in Beijing last week.
More negotiations are to follow as China's vice premier is set to visit Washington at the end of this month.