U.S. Engages in Trade Talks to Reshape Global Tariff Landscape

U.S. Trade Representative Jamieson Greer announced that while a 10% universal tariff will remain on imports, discussions with other countries aim to adjust additional tariffs from Trump's administration. Progress with China, Britain, and Switzerland reflects efforts to create secure supply chains and competitive domestic production.

The United States is maintaining its 10% universal tariff on incoming goods but is engaging in dialogue with multiple countries to discuss the reduction of tariffs previously imposed by former President Donald Trump. U.S. Trade Representative Jamieson Greer emphasized ongoing negotiations in a recent CNBC interview, revealing talks with India and planned discussions in Seoul at the APEC commerce minister gathering.

Fresh from productive meetings with Chinese officials in Switzerland, Greer indicated upcoming engagements with South Korean and other Asian trade ministers attending the APEC meeting. He highlighted successful negotiations with China and Britain, as well as positive steps with Switzerland, as part of the U.S.'s efforts to adapt trade relations rapidly where possible.

Greer reiterated the permanence of the 10% tariffs instated by Trump but noted benefits from recent U.S.-China agreements, including a temporary reduction of tariffs on Chinese goods. Emphasizing domestic production and robust supply chains, Greer stated the overarching goal is to bolster U.S. competitiveness and reduce the trade deficit, without directly antagonizing China.

(With inputs from agencies.)