October 15, 2019 / 11:38 AM / a month ago

China wants tariffs cut to enable $50 billion imports from U.S.: Bloomberg

FILE PHOTO: Containers are seen at Yantian port in Shenzhen, Guangdong province, China July 4, 2019. REUTERS/Stringer

(Reuters) - China will struggle to buy $50 billion of U.S. farm goods annually unless the United States removes retaliatory tariffs on American products, Bloomberg reported on Tuesday.

China would make the purchases only if U.S. President Donald Trump rolls back levies put in place since the trade war began, Bloomberg said bloom.bg/2OR9dvt, citing people familiar with the matter.

Trump said on Friday that China had agreed to purchase $40 billion to $50 billion worth of agricultural goods from the U.S. in a first phase of an agreement to end the trade war.

Reporting by Bhargav Acharya and Rama Venkat in Bengaluru; Editing by Andrew Heavens

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