US phase one trade deal targets for China are ‘eye-popping’
Analysts say China can’t absorb such quantities of US goods without threatening trade ties with other suppliers and hurting its domestic producers
Beijing/Singapore — Commodity traders and analysts are struggling to map out how China will reach the eye-popping amounts it is committing to buy from the US under phase one of their trade deal.
China has pledged to buy $50bn more in US energy supplies, and will raise US agriculture purchases by some $32bn over two years above 2017’s $24bn baseline, according to a source briefed on the deal to be signed on Wednesday. The deal also stipulates purchases of an additional $80bn in manufactured goods...