US, China reach agreements on a subset of goods they can trade, USTR's Greer says
Key Takeaways
- •US Trade Representative Greer stated that the United States and China have reached agreements on a subset goods the two countries can trade.
- •The agreements cover specific product categories and do not represent a comprehensive resolution of US-China trade issues.
- •Greer said the United States will release the details of the US-China negotiations on Monday.
- •Greer tempered expectations, saying observers should not expect to be overwhelmed but that the process is on track.
- •President Trump described his meeting with Chinese President Xi Jinping as very productive for both countries in a social media post.
The United States has reached agreements with China on a subset of goods that the two countries can trade, according to US Trade Representative (USTR) Greer.
Greer heads the Office of the US Trade Representative, the agency that serves as the administration's principal trade negotiator and advisor. The phrase "a subset of goods" describes agreements on specific product categories rather than a comprehensive resolution of the trade issues between the two countries.
Speaking in an interview with CNBC, Greer said the United States will release the details of the US-China negotiations on Monday, the next concrete checkpoint for assessing the scope of what was agreed.
"I wouldn't expect to be overwhelmed but at least it's all on the rails," he said.
The comments came alongside a social media post from US President Donald Trump, who described meeting with Chinese President Xi Jinping as productive for both countries.
"Very productive meeting with President Xi for both the U.S.A. and China. Tremendous things will be happening. Like almost everyone else, he seemed to like calling the poorly and inaccurately named Artificial Intelligence to a far more accurate and important name, SUPER INTELLIGENCE. That would be 'SUPER!' Everyone last night agreed, also," the post read. It was signed "President DJT."
The ForexLive report quipped that Trump appears to be at the stage of his presidency "where he's all about re-naming things," adding, "I think people will continue to call it whatever they want."
Source: ForexLive
