China open to 'partial U.S. trade deal': reports

Published: Oct 9, 2019 6:20 a.m. ET

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China is open to a limited trade resolution with the U.S., as the world's second-largest economy attempts to de-escalate simmering trade tensions, according to Bloomberg News on Wednesday, citing people with direct knowledge of tariff talks. A separate report from the Financial Times (paywall) indicates that China has offered to increase by 50% purchases of agricultural products from U.S. farmers to $50 billion. The reports comes amid intensifying animosities between the U.S. and China, with both countries announcing plans to implement visa restrictions against each other in recent days. Import duties on $250 billion worth of Chinese goods are set to be raised to a rate of 30% from 25% on Oct. 15. High-level Chinese and U.S. delegates, including China's No. 2 Liu He, are scheduled to meet with their counterparts in Washington, D.C. on Thursday.