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| Quote: Is China Trade Offer Realistic?
The trillion-dollar trade offer reported last week was pretty stunning, but likely too good to be realistic. Back in May, China was reportedly only offering to boost purchases of U.S. goods by about $70 billion over several years, and President Donald Trump briefly seemed ready to bite, even though the deal might have done little to curb the trade gap. The new offer envisions a dramatic shift in global trade. But Bloomberg reported that U.S. negotiators are doubtful it could happen and wary that China's commitments are too far into the future. The first year would see roughly an additional $45 billion in purchases by China. | |
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