Deputy Treasury Secretary on US-China Trade Deal Violations and Global Negotiations

Allegations of Trade Agreement Breach

• 🇨🇳 China is accused of breaching the trade agreement negotiated in Geneva by slow-walking the export of critical minerals, specifically magnets.
• 💡 This action is seen as a return to non-tariff barriers, a tactic previously used by China to gain leverage in international engagements.
• 🇺🇸 The U.S. disputes China's claims of violating the agreement, particularly regarding semiconductor exports, stating these were not part of the Geneva negotiations.

Global Trade Negotiations Progress

• 🎯 The U.S. is actively engaged in trade negotiations with the top 18 countries, aiming for progress before the July 9th deadline.
• 🇬🇧 A trade deal with the UK has already been established, and progress continues with several other nations.
• 🇪🇺 Negotiations with the EU are more complex due to tariffs being handled at the EU level and non-tariff barriers at the country level.

Outlook on Trade Deals

• ⏳ The U.S. aims to conclude as many discussions as possible and reach terms of agreement before the current 90-day pause expires.
• ✅ Demonstrating progress and goodwill is key to continuing towards announcing new deals.
• 🚀 The Deputy Treasury Secretary indicated that the U.S. is close to the finish line on a couple of trade deals, with announcements potentially imminent.