China is planning to balance the bilateral trade with the United States as it decided to import more goods from the US.
The move came ahead of the key talks next month to finalise the texts of Trade Deal with the US to end the Trade War.
REASON Why China Decided To Import More Goods From United States.
China is reportedly planning to balance the bilateral trade with the United States as it decided to import more goods from the US.
The move reportedly emerged ahead of the key talks next month to finalise the texts of trade deal with the US to end the trade war.
According 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.
Han also 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
In regard to exports, U.S. exports were $1,450,457 million dollars whereas China exports were $2,097,637 million dollars.
China has 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.
While China experienced a trade surplus, the United States was faced with a trade deficit; therefore, persuading the Trump Administration to take action.
