FX.co ★ Greer: 55% Tariffs on China a ‘Good Status Quo’

The current US tariffs on Chinese imports remain at approximately 55%, which is perceived as a satisfactory equilibrium, stated US Trade Representative Jamieson Greer, according to a report from Reuters. Speaking at the Economic Club of New York, Greer conveyed that while the Trump administration is currently pursuing opportunities to liberalize certain facets of bilateral trade, there is no immediate intention to reduce the tariffs imposed by President Donald Trump on Chinese goods before the impending November 10 deadline, at which point a temporary trade truce between the two economic giants is due to expire. Nonetheless, Greer highlighted the necessity of sustaining ongoing dialogues with Chinese officials to strive towards a more equitable trade relationship. He identified potential areas of growth in sectors involving "non-sensitive goods," notably US agricultural products and Chinese consumer goods.