Arya News - China has rustled up some trade proposals in the hopes of warding off greater tariffs on its goods from Donald Trump, The Wall Street Journal reported.
China has rustled up some trade proposals in the hopes of warding off greater tariffs on its goods from Donald Trump, The Wall Street Journal reported. Beijing’s offer, however, is a throwback to a previous trade deal signed in early 2020 with the first Trump administration. The so-called Phase One deal required China to boost purchases of US goods and services by $200 billion over a two-year period. Trump described the agreement as the “greatest deal” ever made at the time, yet it mostly fell short. This time around, Beijing is willing to discuss with the Trump administration areas where China can buy more from the US, sources said.China’s opening bid will reportedly also include an offer to make more investments in the US in sectors such as batteries for electric vehicles (EVs) and commitment to reduce exports of fentanyl precursors. In response, the Chinese Embassy in Washington called on the US to “correct its wrongdoings,” while China’s Ministry of Commerce promised to challenge the tariffs at the World Trade Organization (WTO).