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COMING UP:Share Opener Variant 4

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Transcript

00:00:00
>> I can tell you, they're gonna great trade deals, it's gonna be great for our country. Our country has been ripped off long enough.>> High stakes talks between the US and China aimed at heading off a devastating trade war ended Friday with no breakthroughs, but some signs of momentum.
00:00:16
Top economic adviser Larry Kudlow telling reporters China was offering concessions under pressure from President Donald Trump.>> They're meeting many of our demands. There's no deal yet, to be sure. And it's gonna probably take a while to process. But they're coming to play. I believe they want to make a deal.
00:00:35
>> This despite confusion after reports in the US Thursday said China had offered to slash its massive trade surplus with the US by $200 billion a year, a top US goal. Those reports later shot down by Beijing. Reporter David Lauder says any such move by China would be a tall order.
00:00:54
>> Reaching a $200 billion reduction in the US trade deficit with China per year by 2020 would be enormously difficult. The US trade deficit last year with China was $375 billion so you're talking about more than half of the current trade deficit. We did follow up with the US side today and we're told that they interpreted what China was presenting as helping them reach their goals of that $200 billion reduction.
00:01:25
The Chinese seem to be reluctant to be seen as agreeing to US demands in such a stark fashion.>> But in what was seen as a conciliatory move, China said it would end it's probe into imports of the US grain sorghum, a move estimated to be worth 1 billion in trade for the US.
00:01:41
The two days of meetings in Washington between delegations lead by Chinese vice premier Liu He and US Treasury Secretary Steven Mnuchin follow initial talks in Beijing that went nowhere.>> We're changing it around.>> Trump has threatened to impose up to $150 billion in punitive tariffs on Chinese goods to combat the trade imbalance in what he says is Beijing's misappropriation of US technology.
00:02:04
China has said it would retaliate with tariffs on US imports such as soybeans and aircraft.