Breaking News China Offers Path to Eliminate U.S. Trade Imbalance, Sources Say Bloomberg News January 18, 2019, 10:24 AM EST Trucks are reflected in a puddle as they wait in line to unload their containers onto a container ship docked at the Guangzhou Nansha Container Port in Guangzhou, China. Photographer: Qilai Shen SHARE THIS ARTICLE Share Tweet Post Email China has offered to go on a six-year buying spree to ramp up imports from the U.S., in a move that would reconfigure the relationship between the world’s two largest economies, according to officials familiar with the negotiations, Bloomberg News reports. By increasing annual goods imports from the U.S. by a combined value of more than $1 trillion, China would seek to reduce its trade surplus -- which last year stood at $323 billion -- to zero by 2024, one of the people said. The officials asked not to be named as the discussions aren’t public. More information is available on the Bloomberg Terminal. Developing...
let's just hope, the conservative jackasses like Hannity, Jones, Limbaugh or Coulter won't egg trump again. he may go all apeshit on the trade again as he changed his mind on the wall.
So to meet the quota, the Chinese would have to increase their current imports from the US by 40 billion per year roughly . I wonder which competing countries will get shafted in this new Opium war?
This goes against the China 2025 plan which is their long term strategy. So in all likelihood (and the Chinese government has spies at maro largo and has read the art of the deal) this is a paper victory for trump and a real victory for them. And I am pro-trade war. I think trump is doing the right thing here - China is our enemy and the battlefield is economic.