China is reportedly planning to balance the bilateral trade with the United States as it decided to import more goods from the US.
reportedly emerged ahead of the key talks next month to finalise the texts of
trade deal with the US to end the trade war.
to Vice-Premier and Politburo Standing Committee member Han Zheng, China will
work to lift imports and achieve a more even balance of trade with the United States.
said, the government was committed to levelling the playing field
The United States
President Donald J. Trump is asking China to cut the $375 billion trade deficit
and protection of intellectual property Rights (IPR), technology transfer and
more access to US goods to the marketplaces of China.
As of 2016,
the total amount of US imports equalled $2,248,209 million dollars whereas the
total imports of China stood at $1,587,921 million dollars
to exports, U.S. exports were $1,450,457 million dollars whereas China exports
were $2,097,637 million dollars.
had a continuous trade surplus with the US, amounting to $275.81 billion in
2017. Of the trade surplus, 68% of it is derived from the United States alone.
experienced a trade surplus, the United States was faced with a trade deficit; therefore,
persuading the Trump Administration to take action.