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China ready to discuss a partial trade deal and will increase US agricultural purchases, reports say

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October 9, 2019

U.S. stock futures pushed higher Wednesday morning after a report suggested that Beijing is willing to discuss a partial trade deal with Washington.

Bloomberg reported, citing an official with direct knowledge of the negotiations, that China is willing to talk about a possible agreement as long as no more tariffs are imposed by the President Donald Trump administration — including planned levies due this month and in December.

The report added that Beijing would offer non-core concessions like purchases of agricultural products in return, but not budge on major sticking points between the two nations.

The unnamed official said negotiators were not optimistic about securing a broad agreement that would fully end the trade conflict between the world’s two largest economies. Both sides are set for high-level trade negotiations in Washington on Thursday.

Separately, the Financial Times on Wednesday morning reported that officials in China are offering to increase annual purchases of U.S. agricultural products by $10 billion a year, in order to reach a partial deal.

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This article was posted: Wednesday, October 9, 2019 at 5:18 am

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