China denies ‘rumour’ it offered to cut trade surplus with US by US$200 billion a year
Foreign ministry says talks in Washington are ‘ongoing and constructive’, while government adviser estimates it would take three to five years to hit the target
Beijing on Friday denied that it offered Washington a package of measures to cut its trade surplus with the United States by US$200 billion a year during talks aimed at staving off a trade war.
Senior officials from both sides – led by Chinese Vice-Premier Liu He and US Treasury Secretary Steven Mnuchin – held talks in Washington on Friday to find ways to ease trade frictions, after Liu also met US President Donald Trump on Thursday.
Bloomberg reported that the offer to cut the surplus was made by Liu in Washington this week, while Reuters said US aircraft maker Boeing would be a major beneficiary of the offer. Both reports quoted anonymous sources.
But Chinese foreign ministry spokesman Lu Kang dismissed the suggestion as “rumour”.
“As far as I know, the negotiations are ongoing and they are constructive,” Lu said in a daily press briefing.