USTR Greer says will continue to pursue fair reciprocal trade with China

The phrase 'fair and reciprocal trade' is the administration's established framing, so the signal here is continuity rather than escalation or de-escalation. The distinction that has driven the dollar and Asia-sensitive FX in past trade episodes is between process language (talks continuing, frameworks being pursued) and action language (tariff schedules, entity lists, deadlines), with the former producing fleeting moves and the latter repricing growth expectations and the CNY fix's tolerance band. What is worth watching is the follow-through: whether the comments are paired with concrete measures or a meeting calendar, and whether Beijing's readout matches or diverges in tone, since asymmetric messaging has been the more reliable tell of where negotiations actually stand. Absent that, this reads as baseline noise consistent with a status quo trade stance.