According to a report at Southwest Farm Press, China has offered to boost purchases of American goods by about $25 billion this year, showing particular willingness to step up imports of crude oil, coal and farm products, according to people briefed on trade talks between the two countries.
The Chinese offer comes days after U.S. Commerce Secretary Wilbur Ross visited Beijing for talks over how to reduce China’s goods-trade surplus and diffuse an escalating trade war.
U.S. exports to China last year totaled $130 billion while Chinese imports to the U.S. totaled $506 billion. That left a U.S. deficit of more than $375 billion.
