China offers to reduce its trade surplus with the U.S. to zero by 2024
- 5 years ago
On to the trade dispute between the U.S. and China.
Beijing has offered to reduce its trade surplus... which stood at 323 billion U.S. dollars last year... to zero by the year 2024.
According to Bloomberg, China 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 Beijing take measures to fix its trade imbalance between the two countries and address alleged intellectual property theft.
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 in 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.
Beijing has offered to reduce its trade surplus... which stood at 323 billion U.S. dollars last year... to zero by the year 2024.
According to Bloomberg, China 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 Beijing take measures to fix its trade imbalance between the two countries and address alleged intellectual property theft.
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 in 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.