Latest news with #JamiesonGreer
News18
12 hours ago
- Business
- News18
Trump's Aide In Constant Contact With India To Finalise Trade Deal: ‘Calling Every Day'
Last Updated: His remark came at the time when the US president has been constantly mentioning trade pressure while claiming credit for the ceasefire between India and Pakistan. US Trade Representative Jamieson Greer has said that Washington is in constant touch with New Delhi over trade deal discussions, adding that he has been speaking with India's top trade official nearly every day. Speaking to CNBC, he also revealed that negotiations with Malaysia and Vietnam are also in line, which he plans to take forward during the upcoming Organization for Economic Co-operation and Development (OECD) meeting next week. According to the top American trade negotiator, Washington may finalise tariff deals with many major countries in the coming weeks. His remark came a day after US President Donald Trump cited trade pressure and claimed credit for being able to stop 'potentially a nuclear war" between India and Pakistan. Trump has claimed several times in the last few weeks that he told India and Pakistan that the US will stop trade with the two nations if they don't stop the conflict. However, India has always refuted all such claims, saying the issue of trade did not come up at all in talks between Indian and American leaders during its military clashes with Pakistan. Commerce and Industry Minister Piyush Goyal recently met US Commerce Secretary Howard Lutnick in Washington to discuss the proposed bilateral trade agreement currently under negotiation between the two countries. On April 2, the US had imposed an additional 26 per cent reciprocal tariff on Indian goods. However, the additional tariff has remained suspended for 90 days. Watch India Pakistan Breaking News on CNN-News18. Get breaking news, in-depth analysis, and expert perspectives on everything from geopolitics to diplomacy and global trends. Stay informed with the latest world news only on News18. Download the News18 App to stay updated! First Published: June 01, 2025, 19:32 IST
Daily Mail
13 hours ago
- Business
- Daily Mail
Trump's tariff czar reveals the four countries on verge of trade deals…including a 'nasty' one
President Donald Trump 's top trade negotiator shared that the U.S. may be close to finalizing tariff deals with several major partners in coming weeks. U.S. Trade Representative Jamieson Greer told CNBC that an imminent deal could be struck with the E.U. after Trump threatened increasing the 'nasty' union's rate to 50 percent earlier this month. Greer also shared that he has been in nearly constant contact with India 's top trade representative, claiming to have calls with them 'every day.' In addition, the trade rep. revealed that he plans on forwarding negotiations with Malaysia and Vietnam at the upcoming Organization for Economic Co-operation and Development (OECD) meeting next week. He also said he will be talking to E.U. representatives at the gathering. Though not all news has been positive; China, Greer said, has 'violated' a trade agreement made with the U.S. in Geneva earlier this month - echoing a major complaint highlighted by Trump the same day. A handshake agreement between the world's two largest economies came earlier this month and was widely seen as a way to tamper tensions between the pair. China was hit with a tariff rate in excess of 145 percent earlier this year before the agreement, but the rate then came down to around 30 percent. Trump said he expects to talk to Chinese President Xi Jinping during an Oval Office press conference with DOGE leader Elon Musk on Friday. 'I'm sure that I'll speak to President Xi and hopefully we'll work that out, but its a violation of the agreement,' he said. The president said he is sure they will talk as the countries remain at odds over trade. Earlier in the day the 78-year-old commander in chief sent off a salvo on Truth Social lambasting China for violating the Geneva deal. 'Two weeks ago China was in grave economic danger! The very high tariffs I set made it virtually impossible for China to trade into the United States marketplace which is, by far, number one in the world,' his post began. 'We went, in effect, cold turkey with China, and it was devastating for them. Many factories closed and there was, to put it mildly, 'civil unrest,'' it continued. 'The bad news is that China, perhaps not surprisingly to some, has totally violated its agreement with us.' The agreement made between Greer, Treasury Sec. Scott Bessent and some top Chinese officials in Geneva in May stipulated that the two countries would unwind tariffs and trade restrictions on certain critical minerals. Greer accused China of slow-walking that process during his interview Friday. 'The Chinese are slow-rolling their compliance, which is completely unacceptable and it has to be addressed,' he stated. Soon after, a spokesperson for the Chinese embassy in D.C., Liu Pengyu, hit back at the claims. 'Recently, China has repeatedly raised concerns with the US regarding its abuse of export control measures in the semiconductor sector and other related practices,' they said in a statement. 'China once again urges the US to immediately correct its erroneous actions, cease discriminatory restrictions against China and jointly uphold the consensus reached at the high-level talks in Geneva.' The spokesperson's complaint comes after a Reuters report that the U.S. ordered some companies to stop shipping goods to China without certain licensing. Products ranging from semiconductors, chemicals, software and aviation equipment are among the restricted items, sources shared. The president announced a 90 day pause on some tariffs earlier this year, with many steep rates coming back into effect this summer if U.S. trade partners do not sign deals. Vietnam was hit especially hard by the White House's 'Liberation Day' tariff announcement in April. On a massive board showcasing the rates to be imposed held aloft by Trump on stage, Vietnam was slapped with one of the highest tariffs at 46 percent. Malaysia, meanwhile, was hit with a 24 percent rate under Trump's reciprocal tariff plan while India faces a 27 percent rate. Earlier this week, Trump was dealt a devastating blow, albeit a temporary one. A three-judge panel at the U.S. New York-based Court of International Trade ruled that parts of the president's tariff regime was unlawful. The ruling argued that Trump had wrongfully invoked an emergency law to justify the levies. Erupting with frustration, some in the White House vented that the move was akin to a 'judicial coup' against the president's executive authority. The pause was short-lived, though, after an appeals court issued a stay on the panel's ruling that have allowed the tariffs to remain. The appeals court demanded to hear from the Trump administration and the litigating parties, Democratic-led states and a group of small businesses. The case remains ongoing, though the White House has multiple tools at its disposal to implement tariffs in other ways if the court rules against it.
Khaleej Times
19 hours ago
- Business
- Khaleej Times
US and China reach deal to slash trade tariffs, announce 90-day pause
The US and China said on Monday they have agreed a deal to slash reciprocal tariffs for now as the world's two biggest economies seek to end a trade war that has disrupted the global outlook and set financial markets on edge. Speaking after talks with Chinese officials in Geneva, US Treasury Secretary Scott Bessent told reporters the two sides had agreed on a 90-day pause on measures and that tariffs would come down by over 100 percentage points to 10%. "Both countries represented their national interest very well," Bessent said. "We both have an interest in balanced trade, the US will continue moving towards that." Bessent was speaking alongside US Trade Representative Jamieson Greer after the weekend talks in which both sides had hailed progress on narrowing differences. The Geneva meetings were the first face-to-face interactions between senior US and Chinese economic officials since US President Donald Trump returned to power and launched a global tariff blitz, imposing particularly hefty duties on China. Since taking office in January, Trump has hiked the tariffs paid by US importers for goods from China to 145%, in addition to those he imposed on many Chinese goods during his first term and the duties levied by the Biden administration. China hit back by putting export curbs on some rare earth elements, vital for US manufacturers of weapons and electronic consumer goods, and raising tariffs on US goods to 125%. The tariff dispute brought nearly $600 billion in two-way trade to a standstill, disrupting supply chains, sparking fears of stagflation and triggering some layoffs. Financial markets have been looking out for signs of a thaw in the trade war and Wall Street stock futures climbed and the dollar firmed against safe haven peers on Monday as the talks boosted hopes a global recession might be avoided.
The Independent
20 hours ago
- Business
- The Independent
Trade Secretary to meet US counterpart in bid to secure steel tariff exemption
The Trade Secretary will meet his US counterpart next week as the UK seeks to set a timeline for its exemption from US President Donald Trump's steel tariffs. The meeting will come after Mr Trump said he was doubling tariffs on imports of steel from 25% to 50%. The UK struck a deal with Washington for import taxes on its steel to be removed weeks ago, but its implementation has not been finalised. Trade officials and negotiators are planning to speak to the US as soon as they can to understand the implications of Mr Trump's latest steel tariffs. They want to secure a timeline for the UK-US deal to be implemented as quickly as possible in the coming weeks. Jonathan Reynolds will meet US trade representative Jamieson Greer to discuss timings for the deal to be in place when both attend the OECD (Organisation for Economic Co-operation and Development) meeting in Paris next week. Earlier this week, a federal court blocked many of the sweeping Trump tariffs imposed on imports from countries around the world, but left some in place, including those on foreign steel and aluminium. On Thursday, a federal appeals court said it was allowing Mr Trump to continue collecting import taxes for now. On Friday, Mr Trump announced he would double the tariff rate on steel to 50%, starting on June 4. A Government spokesperson said: 'The UK was the first country to secure a trade deal with the US earlier this month and we remain committed to protecting British business and jobs across key sectors, including steel. 'We are engaging with the US on the implications of the latest tariff announcement and to provide clarity for industry.' The agreement, known as the economic prosperity deal, is expected to be presented to Parliament before it comes into force.
Yahoo
a day ago
- Business
- Yahoo
Trade Secretary to meet US counterpart in bid to secure steel tariff exemption
The Trade Secretary will meet his US counterpart next week as the UK seeks to set a timeline for its exemption from US President Donald Trump's steel tariffs. The meeting will come after Mr Trump said he was doubling tariffs on imports of steel from 25% to 50%. The UK struck a deal with Washington for import taxes on its steel to be removed weeks ago, but its implementation has not been finalised. Trade officials and negotiators are planning to speak to the US as soon as they can to understand the implications of Mr Trump's latest steel tariffs. They want to secure a timeline for the UK-US deal to be implemented as quickly as possible in the coming weeks. Jonathan Reynolds will meet US trade representative Jamieson Greer to discuss timings for the deal to be in place when both attend the OECD (Organisation for Economic Co-operation and Development) meeting in Paris next week. Earlier this week, a federal court blocked many of the sweeping Trump tariffs imposed on imports from countries around the world, but left some in place, including those on foreign steel and aluminium. On Thursday, a federal appeals court said it was allowing Mr Trump to continue collecting import taxes for now. On Friday, Mr Trump announced he would double the tariff rate on steel to 50%, starting on June 4. A Government spokesperson said: 'The UK was the first country to secure a trade deal with the US earlier this month and we remain committed to protecting British business and jobs across key sectors, including steel. 'We are engaging with the US on the implications of the latest tariff announcement and to provide clarity for industry.' The agreement, known as the economic prosperity deal, is expected to be presented to Parliament before it comes into force.
