According to Bloomberg, China has offered to eliminate its trade surplus with the United States by 2024. China would accomplish that by increasing annual imports from the U.S. by over $1 trillion. U.S. negotiators reportedly were skeptical about the proposal and countered by calling for the trade surplus to be cut to zero within two years. On Saturday, President Donald Trump said news reports saying the U.S. would reduce tariffs on Chinese products were false, but said the negotiations process is going “about as well as it could possible go.”
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