China has extended the olive branch back to the United States by offering a path to eliminate Washington’s burgeoning trade deficit with the country, Bloomberg reported Friday. The news comes less than a day after The Wall Street Journal reported that the Trump administration was considering lifting tariffs amid the ongoing trade war.
Citing sources familiar with the matter, Bloomberg reported Friday that China has offered to significantly boost its purchase of U.S. goods over a six-year period in an effort to re-balance trade between the two superpowers. By increasing its annual imports from the United States, Beijing would reduce its trade surplus to zero by 2024. That would require a spending boost of more than $1 trillion.