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Media Report
January 18 , 2019
  • CNBC reports, "China has offered a six-year boost in imports during its ongoing talks with the U.S., officials familiar with the matter told CNBC. Chinese officials made the offer during negotiations in Beijing earlier in January, Bloomberg News reported. China would increase its annual import of U.S. goods by a combined value of over $1 trillion, the officials told Bloomberg, which was first to report on the import boost offer. China pegged its proposal to buy more U.S. goods through 2024 to President Donald Trump's hopes of being re-elected in 2020, the sources told CNBC. The U.S. had a trade deficit of $323 billion with China in 2018. This deal would aim to reduce that annual trade difference to $0 by 2024, one of the officials told Bloomberg. Stocks rose to their highs of the day when news of the offer hit Wall Street."
  • The Wall Street Journal reports, "U.S. officials are debating ratcheting back tariffs on Chinese imports as a way to calm markets and give Beijing an incentive to make deeper concessions in a trade battle that has rattled global economies. The idea of lifting some or all tariffs was proposed by Treasury Secretary Steven Mnuchin in a series of strategy meetings, according to people close to internal deliberations. They say the aim is to advance trade talks and win China's support for longer-term reforms. But Mr. Mnuchin faces resistance from U.S. Trade Representative Robert Lighthizer, who is concerned that any concession could be seen as a sign of weakness, these people said."
  • The New York Times reports, "President Trump will meet with North Korea's leader, Kim Jong-un, in late February, the White House announced on Friday, continuing a high-level diplomatic dialogue that has eased tensions but shown little progress in eliminating the North's nuclear arsenal. The announcement came after Mr. Trump met for 90 minutes in the Oval Office with Kim Yong-chol, the former North Korean intelligence chief who has acted as the chief nuclear negotiator for Mr. Kim. The White House press secretary, Sarah Huckabee Sanders, said the date and location of the meeting would be announced later, suggesting that the two sides were still haggling over the site or other logistical details. Vietnam, Thailand, and Hawaii have all been mentioned as potential sites."

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