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China will increase imports from the United States based on "market principles"

North America / Asia / Business and Finance

"the First phase" of a trade transaction between China and the United States provides for an increase in U.S. imports to $ 200 billion in agricultural products, machinery and steel.

China will increase imports from the United States based on "market principles"

China will hold talks with American companies and increase imports of American goods and products in accordance with market principles, said on Sunday a Chinese official from the state planning Commission of China.

the United States can offer a high quality of supply in energy, industrial goods, agricultural products, health care and financial services, said the representative of the National Commission of China for development and reforms (NDRC) Meng Wei at a press conference on Sunday.

China will increase purchases of American goods and services to $ 200 billion within two years in exchange for the US refusal to enter additional tariffs on Chinese goods in the trade between the two largest economies in the world.

China's Vice Premier Liu Heh, signatories to the trade deal with U.S. President Donald trump earlier this week, said that the deal will not affect "the interests of third parties", referring to transactions with other suppliers of agricultural goods.

the Chinese company will import agricultural products of the United States in accordance with the needs of consumers, supply and demand in the market, said Liu, reports CCTV.

Previously coalsalesthat in the framework of the signed "First phase" of trade agreements, Beijing has pledged to buy US industrial goods worth 77.7 billion dollars. This list included articles of iron and steel, and some rare earth elements, although they probably make up a small part of the transaction.

previous To the agreement, Chinese customers purchased in the United States rolled special steels that are not produced in China. However, the import of such steel from the US to China for 2019 does not exceed $ 300 million.

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