Bye Bye Trade War? China Plans $1 Trillion Buying Spree to Reduce US Trade Deficit

China has extended the olive branch back to the United States by offering a path to eliminate Washington’s burgeoning trade deficit with the country, Bloomberg reported Friday. The news comes less than a day after The Wall Street Journal reported that the Trump administration was considering lifting tariffs amid the ongoing trade war.

China Proposes Six-Year Buying Spree
Citing sources familiar with the matter, Bloomberg reported Friday that China has offered to significantly boost its purchase of U.S. goods over a six-year period in an effort to re-balance trade between the two superpowers. By increasing its annual imports from the United States, Beijing would reduce its trade surplus to zero by 2024. That would require a spending boost of more than $1 trillion.

Last year, Beijing’s surplus with the U.S. stood at $323 billion.

https://finance.yahoo.com/news/bye-bye-trade-war-china-160627486.html

Winning!!