Chinese mediators are devising to provide the administration a pact to purchase up to $200 billion worth of American goods, which would permit Mr. Trump to assert triumph in its campaign to diminish the trade deficit with China and bring about evenness in America's trade relationship with its huge economic opponent according to people instructed on the deliberations.
"This rumour is not true".
"As I understand, the relevant consultations are ongoing and they are constructive", he said, adding that he could not elaborate on the specifics of the negotiations.
The Commerce Ministry said it was ending the anti-dumping probe because it would have raised costs for consumers.
A White House statement described the meetings as part of "ongoing trade discussions" and said Trump met the Chinese delegation led by Liu and the US team led by Mnuchin.
It said that higher sorghum prices would eventually impact on consumers.
The announcement was a doable signal Beijing is prepared to make a take care of Washington amid talks between senior US and Chinese language officers geared toward averting a commerce conflict between the world's two greatest economies.
Agreeing to a deal focused primarily on reducing the trade deficit could also weaken Trump's original tariff goal of pressuring China to end policies that his administration says are aimed at misappropriating USA technology - a bigger structural change for China's state-driven economic model. That could speculatively decrease its trade surfeit with the United States which embarked $372.5 billion past year by about $200 billion, though the actual number would be much lesser.
"The United States officials and the Chinese delegation also participated in a meeting with President Donald J Trump at the White House".
The top-line number in the Chinese offer would largely match a request presented to Chinese officials by Trump administration officials in Beijing two weeks ago.
China began investigating USA sorghum in February after discovering that giant volumes and falling costs damage Chinese language producers.
China may buy up to Dollars 200 billion worth of American goods under intense pressure from the Trump administration to reduce its massive trade deficit with the United States, a media report said today, amid a round of high-level trade talks between the world's two largest economies. The grain is mainly used as an ingredient in liquor.
"China has taught a lesson to the United States and showed how it can hurt U.S. exports", said Ole Houe, director of advisory services at brokerage IKON Commodities in Sydney.
President Donald Trump's administration has proposed tariffs on up to $150 billion in Chinese products to punish Beijing for requiring US companies to turn over technology in exchange for access to China's market.
"Now they are showing goodwill by halting its anti-dumping investigation into sorghum imports, but it is a cheap way of showing goodwill as the U.S. doesn't have much sorghum left to export".
In the current round of talks, China is reportedly offering Trump a massive reduction of its trade surplus. "The next USA sorghum crop will be harvested in August", Houe said.