China has pledged to buy nearly $80 billion in additional manufactured goods from the United States over the next two years as part of the trade war truce, according to a source.
Under the terms of the trade deal to be signed on Wednesday in Washington, China will also buy more than $50 billion more in energy supplies, and increase purchases of U.S. services by about $35 billion in the same two-year period, the source told Reuters on Monday.
Phase 1 of the deal calls for Chinese purchases of U.S. agricultural products to increase by about $32 billion over two years, or about $16 billion a year, said the source, who was briefed on the deal.
When added to the benchmark $24 billion in U.S. agricultural exports in 2017, the total comes close to the $40 billion annual target announced by U.S. President Donald Trump.
The figures, expected to be announced on Wednesday at a White House signing ceremony between Trump and Chinese Vice Premier Liu He, represent a surprising increase over recent Chinese imports of U.S. industrial goods, raising some skepticism about how they will be achieved.
Two other sources familiar with the deal agreed on the details of the purchases, without providing specific numbers.
A spokesperson for the U.S. Trade Representative's office could not immediately be reached for comment.
Source: Notícias Agrícolas
