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- U.S. Trade Representative Jamieson Greer said the U.S. and China have reached agreements covering a “subset” of non-sensitive goods that could be traded on more favorable terms.
- Greer said the Trump administration will release more details Monday, but did not specify which products are covered, how tariffs could change or when the terms would take effect.
watch nowVIDEO10:13U.S. Trade Rep. Greer: More details will be released next week on trade details with ChinaSquawk Box
U.S. Trade Representative Jamieson Greer told CNBC on Friday that the U.S. and China have reached agreements covering a subset of goods the two countries can trade on more favorable terms, marking fresh progress in negotiations between the world’s two largest economies.
“We’ve actually reached agreement with the Chinese on a number of these things,” Greer said on CNBC’s “Squawk Box,” referring to goods including U.S. agricultural products and medical devices and Chinese consumer goods considered non-sensitive.
Greer said the Trump administration plans to release “a lot more details” Monday about what the two sides have accomplished in negotiations over the past several weeks. He said the goal is to carve out areas of trade that could remain insulated from future tariff measures or broader trade disputes.
The two countries want some goods to be traded on a “more preferential basis” and potentially left aside if either country imposes new tariffs.
Greer did not specify Friday which products are covered by the agreements, how tariffs on those goods could change or when the new terms would take effect. Negotiations under the new U.S.-China “Board of Trade” mechanism are focused on “pure trade issues,” Greer said, rather than U.S. national security restrictions on advanced technology.
“All those export controls that are national security issues, we take those off the table,” Greer said.
Trump and Xi, after they met in Beijing in May, announced the establishment of the “Board of Trade” to manage trade between the two rivals in non-sensitive products. Businesses have been waiting for more details on what categories of trade would be set aside, under the new framework, for lower tariffs.
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