China reportedly to boost purchases of US semiconductors to alleviate trade tensions

Liu He - Robert Lighthizer

China is reportedly promising to buy semiconductors and other U.S. products in an attempt to alleviate trade tensions with the U.S., according to a Wall Street Journal report Thursday.

The olive branch is meant to persuade President Donald Trump to extend a temporary truce over tariffs, according to the report, which cited people with knowledge of the matter.

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The world’s largest economies are on the fourth day of high-level talks about the ongoing trade dispute. The delegation in Beijing is led by Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer, and their Chinese counterparts led by Vice Premier Liu He.

China’s top economic planning agency is floating a plan to increase U.S. semiconductor sales to China to a total $200 billion in the next six years — about a five-fold increase over current exports, the Journal reported, citing U.S. companies briefed on the plan.

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