The offer was made during trade negotiations to halt the escalation of tariffs between the two.
Bloomberg said U.S. negotiators asked for even more – an elimination of the trade deficit within two years. China said its offer would eliminate it by 2024. It stood at $323 billion last year.
China has already increased its purchasing of U.S. soybeans in an effort to help trade negotiations.
China's tariffs on U.S. goods, including pork, have sideswiped Canadian farmers. For example, pig prices have plunged to below the cost of production for some Canadian farmers.
There is news now that China’s economy has slowed to the lowest level in 20 years, yet it is still growing.
