Greer claimed that the US trade deficit with China was down “about 25%” since 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 were 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.”
Trump and Chinese President Xi Jinping struck a deal in late October that saw the sides agree to extend a tariff truce, roll back export controls and reduce other trade barriers. Still, some key elements of the deal — including the sale of the US operations of social video app TikTok, expanded soybean purchases, and an increase in licences to export critical rare earths from China — remain works in progress.
Greer said the US was monitoring the relationship “literally on a daily basis”.
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“We have to get our own house in order,” Greer said. “We need to make sure that we are on a good path to reindustrialisation, including for critical minerals.”
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