China offers US $200bn trade remedy

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Via Reuters:

China has offered U.S. President Donald Trump a package of proposed purchases of U.S. goods and other measures aimed at reducing the U.S. trade deficit with China by some $200 billion a year, U.S. officials familiar with the offer said.

The offer was made during U.S.-China trade talks in Washington aimed at resolving tariff threats and other trade irritants between the world’s two largest economies, but it was not immediately clear how the total value was determined.

One of the sources said that U.S. aircraft maker Boeing Co would be a major beneficiary of the Chinese offer. Boeing is the largest U.S. exporter and already sells about a quarter of its commercial aircraft to Chinese customers.

Calling that vague doesn’t really cut it. China has a habit of repackaging old announcements.

Anyways, I guess it’s good. Especially for the MB Fund which holds Boeing!

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.