November 8, 2017 / 9:50 AM / 2 months ago

U.S. Commerce Secretary says Trump-Xi talks will address trade imbalances

BEIJING (Reuters) - Meetings between U.S. President Donald Trump and Chinese President Xi Jinping in Beijing this week will focus on addressing trade imbalances between the two countries, U.S. Commerce Secretary Wilbur Ross said in Beijing on Wednesday.

Ross was speaking at a signing ceremony for commercial deals between the two countries worth about $9 billion that were signed as part of Trump’s visit to China.

Trump has railed against China’s massive trade surplus with the U.S., accusing Beijing of unfair trade practices.

Data released Wednesday showed China’s exports to the U.S. rose 8.3 percent on-year in October, while imports increased 4.3 percent. That resulted in $26.62 billion trade surplus with the U.S. last month, down from a record $28.08 billion in September.

Chinese vice premier Wang Yang said at the ceremony that deals signed between China and U.S. firms will contribute to overall stability between the two countries.

Reporting by Matthew Miller; Editing by Sam Holmes

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