China proposes buying US agricultural, energy products if Washington abandons tariff threat: US media

Xinhua
China has proposed buying US agricultural and energy products worth nearly US$70 billion, but with conditions, according to a Wall Street Journal report on Tuesday.
Xinhua

China has proposed buying US agricultural and energy products worth nearly US$70 billion, but only if Washington abandons its threat to slap tariffs on Chinese imports, according to a Wall Street Journal report on Tuesday.

The report cited sources as saying that Chinese trade negotiators last week presented a US delegation in Beijing a package that includes Chinese companies buying more US soybean, corn, natural gas, crude oil and coal.

Chinese and US officials estimated the value of the package to be nearly US$70 billion in the first year, the report added.

It also said the Chinese side made it clear to the US delegation that the planned purchases would not come into effect if the Trump administration continued with its plan to impose tariffs on US$50 billion worth of Chinese imports.

The sources also said details of the outcome have yet to be confirmed by the two sides, and follow-up negotiations might be needed.

"To implement the consensus reached in Washington, the two sides have had good communication in various areas such as agriculture and energy, and have made positive and concrete progress while relevant details are yet to be confirmed by both sides," the Chinese side said in a statement after the conclusion of the talks.

To meet the people's ever-growing needs for a better life and the requirements of high-quality economic development, China is willing to increase imports from other countries, including the United States, which will benefit people of both countries and the rest of the world, the statement said.

The outcome of the talks should be based on the prerequisite that the two parties meet each other halfway and will not engage in a trade war, it said.

"All economic and trade outcomes of the talks will not take effect if the US side imposes any trade sanctions including raising tariffs," the statement read.



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