WASHINGTON: The United States is content to maintain tariffs of around 55 per cent on Chinese imports, but hopes to carve out areas of freer trade, US Trade Representative Jamieson Greer said on Tuesday (Sep 30).
Greer told the Economic Club of New York there was no immediate plan to lower tariffs imposed by President Donald Trump, even with a Nov 10 deadline looming for the expiration of a trade truce between the world’s two largest economies.
‘THIS IS OUR DEAL’
“If you ask the president, ‘Do we have a deal with China?’ He would say, ‘Yeah, this is our deal. I’ve got 55% tariffs on it. That’s the deal.’ So that is a good status quo,” Greer said.
He added the administration wanted to expand trade in “non-sensitive goods,” such as US agricultural products and Chinese consumer goods.
“I would like to get to a position with them where…we can trade a little more freely and in a little more transparent kind of way,” he said.
Without an extension, tariffs are due to snap back to about 145 per cent on the US side and 125 per cent on the Chinese side, levels that would virtually halt bilateral trade.
