File - In this April 6, 2018, file photo, containers are loaded onto a cargo ship at the port in Qingdao in east China's Shandong province.(Chinatopix via AP)
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China denied Friday that it had offered a package to slash the U.S. trade deficit by up to $200 billion, hours after it dropped an anti-dumping probe into U.S. sorghum imports in a conciliatory gesture as top negotiators meet in Washington. U.S. officials had said Thursday that China was proposing trade concessions and increased purchases of American goods aimed at cutting the U.S. trade deficit with China by up to $200 billion a year.Chinese Vice Premier Liu He is in Washington this week for talks with U.S. officials led by U.S. Treasury Secretary Steven Mnuchin aimed at heading off a trade war between the world's two biggest economies.The United States shipped 4.76 million tons of sorghum to China in 2017, worth about $1.1 billion, accounting for the bulk of Chinese imports of the grain used in animal feed and Chinese liquor.In April, China forced U.S. sorghum exporters to put up a 178.6 percent deposit on the value of their shipments to the country after launching an investigation in February following Trump's imposition of steep tariffs on imports of solar panels and washing machines.
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