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China Offers to Boost U.S. Goods Purchases by $25 Billion, Sources Say
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Even though they're offering less than Trump has proposed, this represents progress that we're beginning to shift to more balanced trade with China. Any progress in that direction is good... presumably.
On the other hand, this could represent some shitty shuffling in the marketing of assets. China may not be offering much but is reporting that it is... along with the MSM. MSM sources are saying this is an olive branch. But if the deal actually isn't good and Trump declines it, he may be painted as the bad guy and accused of trade war mongering.
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China offered to boost purchases of American goods by about $25 billion this year, while the U.S. is finishing a deal with ZTE Corp. that would allow the Chinese telecom-equipment maker to resume purchases from its American suppliers.
President Xi Jinping’s government has started to quantify its commitment to import more U.S. products as trade talks between the two nations progress, according to two people familiar with the matter, who spoke on condition of anonymity because the negotiations aren’t public. In particular, China has shown willingness to step up purchases of U.S. goods including crude oil, coal and farm products, according to the people briefed on the talks.
Commerce Secretary Wilbur Ross was in Beijing from June 2-3 for the third round of high-level trade negotiations, which focused on China agreeing to buying more U.S. energy and farming goods, according to the White House. China has warned it would cancel any promises over trade with the U.S. if the Trump administration moves ahead with planned tariffs.
[link to www.bloomberg.com (secure)]
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China has floated a massive purchase of US goods, according to a new report, in an effort to curb burgeoning trade tensions with the Trump administration.
According to Lingling Wei and Bob Davis at The Wall Street Journal, Chinese officials in a meeting with Commerce Secretary Wilbur Ross over the weekend offered to purchase close to $70 billion worth of US goods in the next year if the US backs off proposed tariffs on imports of Chinese products.
As part of the new purchases, China would import larger amounts of US soybeans, corn, natural gas, crude oil, coal, and more, according to The Journal.
The purchases of US agricultural and energy products would be designed to help alleviate some of the simmering trade tensions between the US and China and are the result of a series of back-and-forth talks between the US delegation and Chinese officials.
[link to www.businessinsider.com]
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