ET 20:30

US Trade Representative Says No Timeline for $60 Billion US-China Tariff Relief

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US Trade Representative Jamieson Greer said on Thursday there is no timeline for the $60 billion in tariff relief recently proposed by the US-China Board of Trade, dimming hopes for lower levies before the Christmas shopping season. "We have to follow legal procedures," Greer said at the G20 trade ministers' meeting in Milwaukee, adding the board's recommendations could be incorporated into tariff measures in the future. Greer said the mechanism requires public consultation, including a public comment process, and a final legal determination on whether to adopt the board's recommendations. Those steps reduce the likelihood US consumers will see lower tariff rates before the holiday shopping season. The Board of Trade, announced after President Donald Trump's May visit to Beijing and formally launched after President Xi Jinping's September visit to Washington, saw both sides cut tariffs on $30 billion of non-sensitive goods last week. US exports benefiting include meat and dairy; Chinese goods include small appliances, toys and holiday decorations. Analysts said such "cooling" language is common in bilateral talks and does not necessarily signal a breakdown.

ByTicklex Editorial