Date
25 May 2018
China is said to have laid out a package that could result in its annual trade surplus with US get trimmed by US$200 billion. Photo: Bloomberg
China is said to have laid out a package that could result in its annual trade surplus with US get trimmed by US$200 billion. Photo: Bloomberg

China offers Trump package to slash US trade deficit: report

China has offered US President Donald Trump a US$200 billion package of proposed purchases of American goods and other measures aimed at reducing the US trade deficit with China, Reuters reports, citing sources familiar with the matter.

The offer came during the US-China trade talks that got underway in Washington on Thursday, according to the report. 

A source was quoted as saying that aircraft maker Boeing would be a major beneficiary of the Chinese offer if Trump were to accept it. 

Another person told Reuters that the package may include some elimination of Chinese tariffs on about US$4 billion worth of US farm products including fruit, nuts, pork, wine and sorghum.

The offer of a US$200 billion reduction in the trade gap would match a request presented to Chinese officials two weeks ago by the Trump administration. 

On Thursday, Trump met with the leader of the Chinese delegation, Vice Premier Liu He, but the White House did not make any statement following the meeting.

Earlier in the day, the US president criticized China as being “very spoiled” on trade with the United States, but said he was aiming for an overall deal with China.

Speaking to reporters at the White House, Trump said China had “ripped off” the US for too long and that he told Chinese President Xi Jinping that “we just can’t do that anymore.”

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CG/RC

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