China offers to reduce its trade surplus with the U.S. to zero by 2024

China has offered to reduce its trade surplus
with the U.S. to zero by the year 2024,… which stood at 323 billion U.S. dollars last
year. According to Bloomberg, Beijing proposed to
increase U.S. imports by more than 1 trillion dollars over the next 6 years. The move is seen as China's effort to resolve
its trade conflict with the U.S., with Washington demanding that China take measures to fix
its trade imbalance between the two countries. U.S. President Donald Trump and Chinese President
Xi Jinping held a meeting in Argentina last month and agreed to a 90-day cease-fire of
their trade war. Washington and Beijing began vice-ministerial
level negotiations in Beijing last week. More negotiations are to follow as China's
vice premier is set to visit Washington at the end of this month..

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