Greer: US, China Willing to Continue Trade Truce

Summary

U.S. Trade Representative Jamieson Greer discusses US-China trade relations, progress on agricultural purchases and rare earth supplies, and the possibility of extending the trade truce. He highlights a 33% reduction in the US trade deficit with China and the establishment of a Board of Trade for non-sensitive goods. Taiwan and export controls are acknowledged but not major topics of the bilateral meeting.

• US-China trade truce is stable and both sides are willing to extend it if progress continues.
• China has fulfilled soybean purchase commitments and appears to be complying on rare earths after US advocacy.
• The US trade deficit with China dropped by 33% in the past year, seen as a success.
• A Board of Trade will be set up to focus on non-sensitive goods and facilitate mutually beneficial trade.
• Taiwan was raised by China but did not dominate the bilateral agenda.
• Export controls on chips (H200) were not a major discussion topic in the leaders' meeting.
• China's new supply chain rules raise concerns for US companies operating there.
• Both leaders had candid discussions, with a focus on managing differences rather than escalating.