US wants stability with China instead of conflict: Trade Representative Greer
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The US and China struck a deal in late October that saw both sides agree to extend a tariff truce, roll back export controls and reduce other trade barriers.
PHOTO: REUTERS
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WASHINGTON – US Trade Representative Jamieson Greer said the US is prioritising a stable trade dynamic with China despite a push from some allies to take coordinated action against Beijing.
“I don’t think anyone wants to have a full-on economic conflict with China and we’re not having that,” Mr Greer said on Dec 4 at the American Growth Summit in Washington.
“In fact, President (Donald) Trump has had the opportunity to use all the leverage we have against China – and we’ve had a lot, right – whether it comes to software, semiconductors or all kinds of things. A lot of allies are interested in taking coordinated action, but the decision right now is we want to have stability in this relationship.”
Mr Greer said the US trade deficit with China has been down “about 25 per cent” since Mr Trump came to office, a move in the “right direction” for a team seeking to balance the flow of goods. At the same time, he acknowledged that Chinese products are still making their way to the US, including by transshipment through other nations.
“For this moment in time, we want to make sure that China is buying the kinds of things from us we should be selling them: aircraft, chemicals, medical devices and agricultural products,” he said. “We can buy things from them that are not sensitive.”
Mr Trump and Chinese President Xi Jinping struck a deal
Still, some key elements of the deal – including the sale of the US operations of social video app TikTok, expanded soya bean purchases and an increase in licences to export critical rare earths from China – remain works in progress.
Mr Greer said the US is monitoring the relationship “literally on a daily basis”.
“We have to get our own house in order,” Mr Greer said. “We need to make sure that we are on a good path to reindustrialisation, including for critical minerals.” BLOOMBERG
