China will significantly increase purchases in the United States. For how much is the question.

China "will significantly increase purchases" of US goods, the White House said that Beijing's special envoy at the talks in Washington declared that a trade war between the two largest economies in the world was avoided.

Joint Statement published by the White House after the talks did not include a dollar figure on the increase in purchases by China, nor did it respond to a comment by President Donald Trump's chief economic adviser, suggesting that Beijing had agreed to cut its annual trade surplus with the United States by $ 200 billion. [19659002] Deputy Prime Minister Liu He, special envoy of Chinese President Xi Jinping, told reporters in Washington that talks with US officials, including Treasury Secretary Steven Mnuchin, Commerce Secretary Wilbur Ross and US trade representative Robert Lighthizer ended up participating in a trade war, according to a report by the Xinhua news agency .

Liu said the two sides agreed to stop "slapping the tariffs" on each other, Xinhua said. Liu said that his trip to the US UU He had been positive, pragmatic, constructive and productive. It would improve trade cooperation in areas such as energy, agriculture, medical care, high-tech products and finance, a "win-win" option for both nations.

China agreed to "significant increases in US agricultural and energy exports," the White House said, adding that the United States will send a team to China to resolve the details.

Trade deficit

"There was consensus on the adoption of effective measures to substantially reduce the US trade deficit in goods with China," the White House said.

Delegations also discussed the expansion of trade in manufactured goods, and each party agreed to strengthen cooperation on intellectual property matters. China will "make significant amendments" to its laws and regulations in that area, including its patent law, the White House said.

The White House's joint statement did not mention the additional demands of the United States, including the suspension of subsidies and other government support for the Made in China 2025 plan that targets strategic industries, from robotics to new energy vehicles . China made its own demands, including granting the same treatment to its investment, and warned US companies that they could be excluded from measures to open up their economy.

"This round of talks is generally positive," said Li Yong, senior researcher at the China International Trade Association in Beijing, adding that the United States can still take a tougher line in revising Chinese investments. . "Trade tensions will ease gradually, but there could still be friction."

On Friday morning, Larry Kudlow, director of the National Economic Council, told reporters that China had offered to reduce its annual trade surplus with the United States. for "at least $ 200 billion."

"The number is a good number," Kudlow said outside the White House.

Conciliatory Position

Earlier, two publications in Chinese state social media disputed a report that China plans to cut its trade surplus to the extent demanded by Washington through increased imports of US products. An official of the Ministry of Foreign Affairs also played down the suggestion.

In a sign that the Chinese government is seeking a conciliatory position, it announced on Friday that it was ending an anti-dumping and anti-subsidy investigation on US sorghum imports, citing "public interest." That measure came days after restarted a review of Qualcomm Inc.'s request to acquire NXP Semiconductors NV.

A reduction of $ 200 billion in the US trade gap. UU with China by 2020 was on a list of demands that the United States made earlier this month, as Mnuchin led a delegation to Beijing. That mission was left with little common ground with China and the reports emerged from internal struggles among US officials. UU The US merchandise trade deficit UU With China it reached a record $ 375 billion last year.

Mnuchin and Kudlow will appear on US political talk shows on Sunday.

The Trump administration threatened to impose tariffs on up to $ 150 billion of Chinese imports to the US. UU since the tensions over trade have intensified. Trump expressed doubts before his meeting with Liu that China and the United States would reach an agreement to avoid a damaging trade war.

ZTE Silence

The statement does not mention ZTE Corp., the Chinese telecommunications company that Trump ordered a week ago to the Department of Commerce to help him return to the business, reversing the ban on access to technology American that would have effectively left him without business.

Kudlow said Friday that ZTE might need to change its management to win a postponement of US sanctions that disconnected it from key parts suppliers.

– With the badistance of Ros Krasny, Miao Han, John McCluskey, Saleh Mohsin, Justin Sink, Jenny Leonard and Jeff Kearns


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