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Some US trade deals could be reached in weeks but no China talks under way, USTR Greer says

by Market News Board
2 months ago
in Commodities, Crypto, Economy News, Gold, Market Overview, Oil, Silver
Stocks rally but dollar muted as electronics get a tariff break
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WASHINGTON, April 30 (Reuters) – The Trump administration expects to conclude initial tariff deals with some U.S. trading partners within weeks, but negotiations with India are not “finish-line close” and no official talks with China are under way, U.S. Trade Representative Jamieson Greer said on Wednesday.

Greer told Fox News Channel that the Trump administration is focused on “targeted” deals aimed at increased market access for U.S. exports, reducing tariffs and non-tariff trade barriers, and enhancing U.S. economic security.

“I would say that we have deals that are, that are close,” Greer said. “As the negotiator, I don’t like to negotiate in public, but I will say we’re talking about a matter of weeks and not months, to have some initial deals announced.”

In recent days, Trump officials have said that a deal with one key unnamed trading partner had been reached but needs approval by the country’s parliament and prime minister. Asked whether a deal with India was imminent, Greer said it was not “finish-line close, but I have a standing call with India’s trade minister.” He also cited frequent U.S.-India meetings in recent days.

Greer said he would meet with representatives from Japan, Guyana and Saudi Arabia on Thursday and the Philippines on Friday and is working closely with South Korea and Britain.

Greer said he is telling counterparts that they should reduce tariff levels and “take down your non-tariff barriers that stop me from sending my industrial and ag (agriculture) to your country.” The U.S. is also asking them to level the playing field in digital trade, intellectual property rights, labor and environmental standards, he said.

But with a record $1.2 trillion trade deficit last year, he said the U.S. will want to keep some level of higher tariffs “until that’s resolved.”

He said there were no official talks with China taking place, although he held a call with Chinese Vice Premier He Lifeng announcing steep reciprocal tariffs on April 2. Greer said the Trump administration wants fair trade with China.

“Instead of having an economy that’s financed by the government, we want to make real stuff and sell it, and it means we have to deal with foreign trade practices that are harmful, including in China,” Greer said.

Reporting by David Lawder and Ryan Patrick Jones; Editing by Leslie Adler

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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