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Friction between China and the United States dates back even prior to the establishment of the World Trade Organisation (WTO), but President Donald Trump will likely achieve what many of his predecessors could not. The high-level talks between the US and China were resumed on February 21, with the US team composed of the US Trade Representative, the treasury secretary, the commerce secretary and economic advisors from the White House, while the Chinese delegation was headed by President Xi Jinping’s special envoy, Vice Premier Liu He.
The most crucial element of the ongoing trade negotiations was the reduction in the bilateral trade surplus between China and the US. In 2018, China exported $493.49 billion worth goods to the US, while China’s imports from the US were a meagre $111.16 billion, or 7.2 per cent of US exports. Mr Trump had asked China to restrict its exports to the US to the level of its purchases, namely, $111.16 billion, with March 2 as
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