China offers US $200 billion cut in trade deficit

According to the latest report by Reuters, China has offered U.S. President Trump a package of trade concessions and increased purchases of American goods aimed at reducing the U.S. trade deficit with China by up to $200 billion a year, said a White House official. China will also increase technology imports from the US. Sanctions on ZTE might get a break after the trade meeting today.

China made the offer during trade talks in Washington as Chinese Vice Premier Liu He and a trade delegation visited to try to resolve a trade dispute between the two countries. It is expected China will quickly develop and implement the blockchain applications in export and import tracking systems at major ports in China.

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