USTR's Greer says EU has had a lot of time to comply with tariff commitments, via Bloomberg TV, on China, US looking for stability with China
EU:
- EU tariff and non-tariff commitments have not materialised yet
- Claims that the US is in full compliance with its trade commitments.
- European Parliament's bill features numerous amendments not agreed upon by the US.
- Some of these amendments need to be resolved.
China:
- Asked about the reports that Beijing is refusing to comply with some US sanctions, says it will be something that is discussed between Trump and Xi at their meeting next week.
- US looking for stability with China.
- What China is doing is serious and the US takes it seriously.
- Trump/Xi to discuss China's oil purchases.
- Doesn't expect any decoupling from China.
US:
- Reiterates US must reduce its trade deficit and get real wages higher.
Context
The comments from USTR's Greer highlight growing tensions regarding tariff commitments between the US and EU, suggesting the EU's failure to meet its obligations could impact future trade negotiations. Additionally, the focus on Chinese compliance with US sanctions emphasizes the delicate balance the US seeks in maintaining trade relations, particularly ahead of the Trump-Xi meeting. Overall, this geopolitical landscape suggests potential volatility in equities and currencies, particularly for USD and EUR, as market participants watch for any developments that could affect trade dynamics.
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