CHINA / National |
China plans to buy US$12.5b in US goods(Reuters)Updated: 2007-04-02 11:04 http://bbs.chinadaily.com.cn/viewthread.php?gid=2&tid=559130&extra=page%3D1 China has drafted a plan to buy US$12.5 billion worth of US products including electronic goods and soybeans, a news report said Monday, following Washington's imposition of sanctions in a trade dispute with China. The plan calls for China to purchase US$10 billion worth of mechanical and electronic goods, US$2 billion worth of soybeans and US$500 million worth of cotton, Dow Jones Newswires reported, citing an unidentified person familiar with the plan. The report gave no indication whether the plan was formulated specifically in response to the US complaints that prompted Washington to announce Friday it was imposing higher duties on paper imports from China because of improper Chinese government subsidies. China would make the planned purchases in May and is now coordinating with Chinese companies and associations regarding the plan, the person said. China has announced similar multibillion-dollar purchases of US-made jetliners, farm goods and other products in an effort to defuse tensions during previous trade disputes. The US measures announced Friday would impose preliminary tariffs of 10.9 percent to 20.4 percent on imports of Chinese sheet paper. China's Commerce Ministry protested the decision on Saturday. "China strongly urges the US to reconsider the decision and to correct it as soon as possible," said Wang Xinpei, a ministry spokesman. |
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