WEB DESK
A US news agency has reported that China has offered to reduce its trade surplus with the United States to zero by 2024. According to Bloomberg China presented the offer when trade negotiators from the two sides met in Beijing for three days through January 9th.
The report says Chinese negotiators told their US counterparts that it will increase goods imports from the US by a combined value of more than one trillion dollars by 2024.
Some trade policy experts note that it would be unrealistic to eliminate China’s huge trade surplus with the US.
But Bloomberg says the US side asked China “to do even better, demanding that the imbalance be cleared in the next two years.”
At a summit last month, the two countries agreed that the US would postpone imposing higher tariffs on Chinese imports until March 1st while they continue negotiations to try to settle their dispute.