China to offer path to eliminate trade imbalance with US: Bloomberg News

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China has offered to make up the trade imbalance with the United States, telling U.S. trade negotiators that China will ramp its purchases of U.S. goods, Bloomberg News reported on Friday, citing officials familiar with the talks.

Chinese officials made the offer during negotiations in Beijing earlier in January, the report said. China would increase its annual import of U.S. goods by a combined value of over $1 trillion, the officials told Bloomberg.

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.

This story is developing. Please check back for updates.

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