United States Trade Representative Jamieson Greer is currently delivering remarks at a scheduled briefing concerning the initial round of high-level trade negotiations between the U.S. and China. These discussions took place over the weekend in Geneva, Switzerland, and are being closely watched by global markets.
Key quotes
- The discussions were characterized by mutual respect and a shared understanding between the negotiating teams from both nations.
- Maintaining an effective embargo was deemed an unsustainable practice, posing challenges for both the United States and China.
- Both the U.S. and China have demonstrated a strong commitment to adhering to the 90-day pause period agreed upon previously, aiming to facilitate further negotiations.
- The issue surrounding fentanyl remains unresolved at this juncture, with no immediate changes to report.
- The outcome of the initial discussions has yielded a result that is highly beneficial for both the United States and China, fostering a more stable economic environment.
- We have established a constructive path forward, paving the way for positive and productive conversations with our Chinese counterparts in the coming weeks.
- This agreement centers on reciprocal tariffs, which are currently set at 10% for both countries, representing a significant step towards balanced trade relations.
- The fentanyl issue is being addressed separately, but on a very positive track, and we are engaged in very constructive conversations to find a resolution.
- When questioned about the most challenging aspect of the negotiation process, the primary difficulty was rebuilding channels of communication that had deteriorated under the previous administration.
