China To End Anti-Dumping Probe Into US Sorghum Amid Trade Talks
The announcement on sorghum imports came from the Commerce Ministry in Beijing on Friday morning, and was not explicitly linked to the trade talks.
The negotiations are aimed at finding a way out of the bitter trade clash between the world's top two economies.
Experts have said previously that China would likely struggle to significantly ramp up imports of American-made goods - and $200 billion would be a staggering increase.
The announcement came as United States trade officials held talks in Washington with Chinese Vice Premier Liu He, who is President Xi Jinping's top economic adviser. It's also not certain the USA economy could easily step in to supply the kind of machinery China needs.
China entered the talks offering a package of trade concessions and increased purchases of American goods aimed at cutting the USA trade deficit by $200 billion, according to the New York Times and agencies. It bought $130 billion of American goods a year ago, according to USA government figures.
The United States' two biggest exports to China were aircraft at $16 billion a year ago, and soybeans, at $12 billion.
American companies would need time to adjust to a huge jump in demand from China.
He also said possible modifications to crushing restrictions that have paralyzed Chinese telecommunications equipment maker ZTE Corp (000063.SZ)(0763.HK) could be part of a trade deal.
According to The New York Times, under the deal being discussed, China would pledge to buy substantially more American goods, including agricultural products like soybeans, as well as semi-conductors and natural gas.
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"That's an enormous number and it suggests that there could be some impressively ambitious accounting", said Scott Mulhauser, a former chief of staff at the U.S. Embassy in Beijing and U.S. Export-Import Bank official who now advises companies on trade issues.
Agreeing to a deal focused primarily on reducing the trade deficit could also weaken Trump's original tariff goal of pressuring China to end policies that his administration says are aimed at misappropriating US technology - a bigger structural change for China's state-driven economic model.
China has signaled its not interested in changing its industrial policies, which it views as crucial for developing its economy.
China has said it will end an anti-dumping probe into United States sorghum imports, as United States and Chinese officials resumed trade talks in Washington.
The US has threatened to impose 25 percent tariffs on up to United States dollars 150 billion in Chinese goods while China has targeted USD 50 billion in American exports.
The ministry said Friday that the measures against United States sorghum, which is typically used to feed animals, "would affect the cost of living of consumers and are not in line with the public interest".
The probe had sparked concerns among American farmers that they might lose their largest export market for the crop.
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