The United States and China will open ministerial-level negotiations “aimed at improving the trade relationship” on Thursday, the White House announced over the weekend. A week later, on April 3, Vice Premier Liu He will bring a delegation to Washington for further discussions about resolving the trade war that began last summer.
U.S. trade representative Robert Lighthizer and Treasury Secretary Steve Mnuchin will lead this week’s session in Beijing and will be accompanied by other trade and Treasury officials, said the White House. U.S. ag exports are forecast to fall slightly this year because of trade turmoil. China used to be the No. 1 market for ag exports but is forecast to drop to fifth place this year with purchases that are less than half of their former levels.
Vice Premier Han Zheng told a development conference that China will buy more imports in a drive to reduce its trade surplus with the United States and improve market access, reported the South China Morning Post. President Trump has focused on balance of trade as the prime indicator whether countries treat the United States fairly. “We do not aim to …[increase the] trade surplus and sincerely want to increase imports to achieve trade balance,” said Han. The U.S. trade deficit with China increased in 2018.
According to published reports, China has offered during negotiations to buy more U.S. goods, including farm exports.