China ‘offered to buy US$70 billion in American products to remove tariffs’

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China has offered to buy almost US$70 billion of US products in exchange for the removal of tariffs placed by the Trump administration against Chinese products, it was reported on Tuesday.

Chinese vice-premier and lead negotiator Liu He told his Washington counterpart in the discussions, Commerce Secretary Wilbur Ross, that Beijing would buy American agricultural and energy products including soybeans, corn, natural gas, crude oil and coal, The Wall Street Journal said.

But Liu told US negotiators that offer would be rescinded if the Trump administration imposed US$50 billion in long-threatened tariffs, people briefed on the latest negotiations told the newspaper…

Read more : SCMP, 06.06.2018