US wants faster path
China said to offer a 6-year import boost over more than $1 trillion.
US trade negotiators said to be skeptical of China's offer
US officials want a faster reduction in the trade gap
Offer said to be made at talks earlier in the month
China proposed buying $1 trillion in US goods over the next six years in a move that would bring the bilateral trade balance to zero by 2024. It would ramp up Chinese imports of US products to $600 billion by 2024 from $155 billion currently.
US officials asked China to do even better, demanding the imbalance be cleared in the next two years.
Tougher disputes to bridge, according to the report from Bloomberg, are on intellectual property theft and Chinese state support of industry. Those are proving to be even tougher to bridge.
The algos jumped all over this headline but now they aren't sure what to do with it. For me, this shows that China is serious. We already know that Trump wants a deal. On net, this should be seen as a positive.
