What China wants from Donald Trump in return for deals that will help him cut the US trade deficit
The US president is eager to reduce the gap between the two countries. In return Beijing is seeking concessions in the hi-tech sphere
China and the United States inked US$9 billion of deals on Wednesday afternoon, hours after US President Donald Trump landed in Beijing to kick off his visit in Beijing.
The two countries reached 19 deals covering bioscience, aviation and smart manufacturing in the Great Hall of People, overseen by Wang Yang, China’s vice-primer in charge of economic issues, and US Commerce Secretary Wilbur Ross, the official media said.
Wang Yang, the newly elected member of the powerful Politburo, told the commercial delegates from both countries that today’s contract signing was just a “warm-up” and there would be more good things tomorrow, indicating more significant deals to be unveiled soon.
JD.com Inc. will buy US$2 billion of U.S. goods, more than half of which is beef and pork, in a deal that coincides with President Donald Trump’s visit to China.
“China’s shoppers will rest assured knowing that they are able to purchase safe, high-quality meat products imported from the U.S.,” JD.com Chief Executive Officer Richard Liu said in the statement.
Trump is travelling with representatives from 30 companies to Beijing, where trade disputes with China is one of the key agenda.