NEW DEADLINE: China speaks out on progress of trade talks with U.S.

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U.S. Trade Representative Jamieson Greer said Sunday that China’s Aug. 12 trade deal deadline may shift, following “very positive” talks with Beijing.

The timeline is still under discussion, telling Face the Nation: “So that’s what’s under discussion right now. I would say that our conversations with the Chinese have been very positive. We have discussions at the staff level, at my level. President Xi and President Trump have had conversations.”

If no deal is reached, tariffs on China—America’s top trading partner—could rise to over 80%.

“We’re working on some technical issues, and we’re talking to the president about it,” he said. “I think it’s going in a positive direction. I’m not going to get ahead of the president, but I don’t think anyone wants to see those tariffs snap back to 84%.”

Greer said both governments made certain commitments during two days of talks in Stockholm last week, but declined to share specific details.

“We talked about, and I won’t go into detail, because they’re confidential conversations between two governments, but they really focused on rare earth magnets and minerals,” he said.

The U.S. aims to ease magnet supply chain dependence on China, Greer said, noting progress is “about halfway there.” In April, Trump imposed a 145% tariff on Chinese imports, prompting Xi to hit U.S. goods with a 125% tariff. A 90-day truce followed, lowering tariffs to about 30% on Chinese goods and 10% on U.S. exports.

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