- Greer noted that U.S.-China trade has become more balanced, with the goods deficit down about 30% over the past year.
- He said the Iran war and shifts in the energy market have not affected the broader U.S.-China economic relationship.
- The U.S. is aiming to reduce reliance on China, the leading producer of critical minerals.
U.S. Trade Representative Jamieson Greer confirmed that high-level U.S.-China trade discussions are scheduled for this weekend in Paris as both nations prepare for a pivotal leaders’ summit in Beijing at the end of March.
Treasury Secretary Scott Bessent, Greer, and China’s Vice Premier He Lifeng will meet in Paris on Sunday and Monday.
Paris Meeting Agenda
In a CNBC interview, Greer said the delegation intends to ensure continued stability in the U.S.-China relationship, safeguard access to critical rare earth materials for American manufacturing, and maintain balanced trade flows between the two countries.
"We want to ensure continued stability in the U.S.-China relationship. We want to make sure that we continue to get the rare earths we need for manufacturing, and they keep buying the kind of things that they should be buying from us.”
-Jamieson Greer, U.S. Trade Representative
Shifts In Trade Dynamics
Greer highlighted that U.S.-China trade has become more balanced in recent months. He noted that the U.S. goods trade deficit with China has declined by roughly 30% over the past year, and imports from China in January hit their lowest level since 2004.
Greer remarked that recent events, such as the Iran war and energy market volatility, have no impact on the overall U.S.-China economic relationship. Strategic trade discussions and supply chain planning are continuing largely independent of the Middle East conflict.
“The Iran war and energy situation doesnt’ affect the China-US economic relationship so much, said Greer.
Race To Secure Rare Earth Mineral Supply
The United States is working to lessen its dependence on China, which currently dominates the critical minerals sector, as it produces 90% of processed rare earths and magnets globally. The Trump administration is intensifying initiatives to bolster domestic supply chains for these essential resources.
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