Beijing ready to discuss partial trade deal with Washington & increase agricultural purchases

US stocks ended down sharply and near the day's lows on Oct 8 as news that the United States has imposed visa restrictions on Chinese officials

US stocks ended down sharply and near the day's lows on Oct 8 as news that the United States has imposed visa restrictions on Chinese officials

China is still open to agreeing a partial trade deal with the United States, Bloomberg reported https://bloom.bg/35jYuzH on Wednesday, citing an official with direct knowledge of the talks, despite the recent blacklisting of Chinese technology firms.

However, the source noted that China was willing to strike a limited agreement as long as Trump drops the added duties set to take effect this month and December.

A Bloomberg report, which cited an unnamed source with direct knowledge of the discussions, noted that Beijing's representatives "aren't optimistic about securing a broad agreement" that would put an end to the yearlong financial dispute between the world's two largest economies.

The Financial Times reports that officials in China are offering to increase annual purchases of U.S. agricultural products by $10 billion a year in order to reach a partial deal. "The Chinese are ready to de-escalate". On Sept. 1, Washington hit Beijing with a 15% levy on $112 billion worth of those items. They are now trying to hammer out a deal, but the last time they came close to an agreement, it was called off at the last minute and resulted in further higher tit-for-tat tariffs.

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