Tuesday, June 05, 2018

China just extended Trump a massive olive branch to try to calm the trade battle

China has floated a massive purchase of US goods, according to a new report, in an effort to curb burgeoning trade tensions with the Trump administration. According to Lingling Wei and Bob Davis at The Wall Street Journal, Chinese officials in a meeting with Commerce Secretary Wilbur Ross over the weekend offered to purchase close to $70 billion worth of US goods in the next year if the US backs off proposed tariffs on imports of Chinese products. As part of the new purchases, China would import larger amounts of US soybeans, corn, natural gas, crude oil, coal, and more, according to The Journal. The purchases of US agricultural and energy products would be designed to help alleviate some of the simmering trade tensions between the US and China and are the result of a series of back-and-forth talks between the US delegation and Chinese officials...MORE

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