China vice premier to visit USA for trade talks

China Trade Talks Continue Next Week in DC

Among the list of hard-line demands that Trump's delegation handed China last week was an ultimatum to cut $200 billion from its annual trade surplus with the U.S.by 2020.

"We believe this shows the United States wishes to reach a consensus with China on trade issues", ministry spokesperson Geng Shuang said at a regular media briefing.

Customs data showed that exports jumped 21.5 percent from a year earlier in April, bouncing back from a contraction the previous month thanks to resurgent global demand.

The visit by vice-premier Liu He - considered President Xi Jinping's right-hand man on economic issues - comes after he led talks in Beijing last week with a high-level U.S. delegation that made little headway in resolving the standoff.

"We have noted the statement from the White House press secretary".

The heated row with Washington and threats of tit-for-tat punitive measures on trade and investment have added to existing concerns about an economic slowdown in China this year. In addition, the USA president wants sharply lower import tariffs for U.S. goods and a cut in Chinese state subsidies for advanced technologies.

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A Reuters report citing sources said China had offered to buy more USA goods and lower tariffs on some goods, including cars.

Trade discussions between China and the USA have intensified as Trump has targeted the trade imbalance between the two countries and insufficient intellectual property protections in China. Last year's merchandise trade surplus totaled $375 billion, according to USA data, while Chinese statistics put it at about $276 billion.

The meetings come after a series of tit-for-tat threats of tariffs on billions of dollars of goods sparked earlier this year by Donald Trump, who accuses China of using unfair practices to get an unfair advantage over United States exporters and costing American jobs.

China's imports from the U.S. climbed 11.6 percent between January and April, which however wasn't enough to offset a 13.9-percent rise in exports to that country.

"We think it shows the USA side's willingness to reach a consensus with China on economic and trade issues", China's ministry of foreign affairs spokesperson Geng Shuang said at a news briefing.

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