China Offers a Path to Eliminate U.S. Trade Imbalance, Sources Say

The offer, made during talks in Beijing earlier this month, was met with skepticism by U.S. negotiators who nonetheless asked the Chinese to do even better, demanding that the imbalance be cleared in the next two years, the people said. Economists who've studied the trade relationship argue it would be hard to eliminate the gap, which they say is sustained in large part by U.S. demand for Chinese products. U.S. stocks extended gains and the dollar rose following the news.
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