(Bloomberg) — China reiterated that it is willing to expand imports from the U.S. if the world’s two largest economies “meet half-way” in trade negotiations.
The two countries had “deep and detailed” talks on agricultural and energy products, while those details are subject to confirmation, Gao Feng, a spokesman for the Ministry of Commerce, said at a regular briefing Thursday in Beijing. Gao said that China doesn’t want to escalate trade tensions with the U.S., and that boosting imports is an established strategy.
The comments come after reports that China has offered to boost purchases of U.S. goods by about $25 billion this year ahead of a mid-June deadline for imposing tariffs on Chinese imports. U.S. Commerce Secretary Wilbur Ross was in Beijing earlier this month for the third round of high-level negotiations, which focused on China agreeing to buy more U.S. energy and farming produce. Gao didn’t comment on any specific Chinese offer during the talks.
China said after that round that all commitments made so far will be withdrawn if President Donald Trump carries out his threat to impose tariffs.
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Source: Investing.com
