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China Denies $200 Billion Offer

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China cast doubt on reports that it had offered to reduce its annual trade surplus with the U.S. by $200 billion through increased imports of American products.The offer was made during talks in Washington this week as Vice Premier Liu He visited to try to resolve a trade dispute, according to a Trump administration official who spoke on condition of anonymity. On Friday, two posts on Chinese state social media disputed the report, and a foreign ministry official said no such offer had been made, to his knowledge.Liu HePhotographer: Jason Alden/BloombergIn a sign that the Chinese government is seeking a conciliatory stance, on Friday it announced that it would end its anti-dumping and anti-subsidy investigation into imports of U.S. sorghum, citing “public interest.” That move comes days after the restarting of a review of Qualcomm Inc’s application to acquire NXP Semiconductors NV.

Source: China Casts Doubt on Report of $200 Billion Trade Deficit Offer – Bloomberg

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Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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