U.S. Trade Representative Says "55% Tariff on China Is a Good Status Quo"... Rules Out Reduction

Jameson Greer, United States Trade Representative (USTR), described the current approximately 55% U.S. tariff rate on Chinese goods as a "good status quo."

According to Reuters on September 30 (local time), Greer made these remarks during a speech at the Economic Club of New York, referring to the high tariffs imposed on China.

Jameson Greer, United States Trade Representative (USTR). Photo by AP News Agency

He stated, "If you ask President (Donald Trump) whether there is a deal with China, the President would probably say, 'We imposed a 55% tariff, and that's our deal.' Therefore, this is a good status quo."

The 55% tariff on Chinese goods mentioned by Greer appears to be a combined figure, including the roughly 20% tariff the United States has imposed on China since before the launch of the second Trump administration on January 20.

Greer said he wants to continue regular consultations to make trade relations with China more balanced. This means seeking opportunities to expand trade in items such as U.S. agricultural products or Chinese consumer goods. He stated, "I want to be in a position where we can trade with China in a freer and more transparent manner."

Reuters analyzed that these remarks suggest the Trump administration is not considering further reductions in tariffs on China, as the "90-day truce" in the U.S.-China tariff war is set to end on November 10.

Greer assessed that the Chinese negotiating team is showing increased confidence and making more demands, leveraging their global influence in rare earths and magnet supply. He also pointed out that China's aggressive "wolf warrior diplomacy" stance in recent years has affected U.S.-China economic negotiations, adding a political dimension to discussions that were previously technical in nature.

Meanwhile, Greer indicated that additional measures could be taken for the U.S. government to make direct equity investments in companies, as it did with Intel. Last month, the Trump administration secured a 9.9% stake in Intel by investing $890 million in subsidies and other support approved under the CHIPS Act.

When asked whether the Trump administration is considering acquiring a stake in Nvidia, he avoided a clear answer, saying, "President Trump would want to have a stake in any company that is performing well."