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China denies it offered package to slash US trade gap by $200 billion

Updated : May 18, 2018 02:16 PM IST

US officials had said in Washington on Thursday that China was proposing trade concessions and increased purchases of American goods aimed at cutting the US trade deficit with China by up to $200 billion a year.
Chinese Vice Premier Liu He is in Washington this week for talks with US officials led by US Treasury Secretary Steven Mnuchin aimed at heading off a trade war between the world's two biggest economies.
Getting to a $200 billion reduction of the US-China trade deficit on a sustainable basis would require a massive change in the composition of trade between them, and the news had been met with scepticism from economists
China denies it offered package to slash US trade gap by $200 billion

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