By admin       2018-05-23

Financial Times writers Shawn Donnan and Tom Mitchell reported on Saturday that, Chinese officials have indicated their willingness to buy more US exports but stopped short of accepting US President Donald Trump’s demand for a $200bn reduction in their bilateral trade surplus, as the two sides failed to agree on relief measures for a Chinese telecommunications company hit by crippling US sanctions. In a joint statement released on Saturday the two sides said they had agreed on the need for ‘effective measures to substantially reduce’ the US $337bn annual trade deficit with China. They said that after two days of ‘constructive talks’ China had agreed to ‘significantly increase’ its purchases of US goods and services and on the need for ‘meaningful increases’ in US agricultural and energy exports to China. On Monday, Evelyn Chang reported at CNBC Online reported that, American beef, corn and soybeans could benefit the most from the latest trade agreements between the U.S. and China. ‘We estimate a potential increase of US$60-90bn in Chinese purchases of US goods, with a rise in agriculture imports (particularly beef) in the near term,’ Morgan Stanley Economist Robin Xing, Strategist Michael Zezas and their team said in a note Sunday.

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