US President Donald Trump’s administration expects to conclude initial tariff deals with some US trading partners within weeks, but negotiations with India are not “finish-line close” and no official talks with China are under way, US Trade Representative Jamieson Greer said on Wednesday.
Greer told Fox News that the Trump administration is focused on “targeted” deals aimed at increased market access for US exports, reducing tariffs and non-tariff trade barriers, and enhancing US economic security.
“I would say that we have deals that are, that are close,” Greer said. “As the negotiator, I don’t like to negotiate in public, but I will say we’re talking about a matter of weeks and not months, to have some initial deals announced.”
Photo: AFP
Asked whether a deal with India was imminent, Greer said it was not “finish-line close, but I have a standing call with India’s trade minister.”
He also cited frequent US-India meetings in recent days.
Greer said he would meet with representatives from Japan, Guyana and Saudi Arabia yesterday and the Philippines today, and is working closely with South Korea and the UK.
However, there were no official talks with China taking place, he said, although he held a call with Chinese Vice Premier He Lifeng (何立峰) announcing the steep “reciprocal” tariffs on April 2.
The Trump administration wants fair trade with China, Greer said.
“Instead of having an economy that’s financed by the government, we want to make real stuff and sell it, and it means we have to deal with foreign trade practices that are harmful, including in China,” Greer said.
On Wednesday, Trump reiterated there was a “very good chance we’re going to make a deal” with China.
“But we’re going to make it on our terms and it’s got to be fair,” Trump told a NewsNation “town hall.”
Meanwhile, a social media account affiliated with Chinese state media said yesterday that the US has approached China seeking talks over Trump’s 145 percent tariffs.
“The US has proactively reached out to China through multiple channels, hoping to hold discussions on the tariff issue,” Yuyuan Tantian (玉淵譚天) said in a post published on its official Weibo social media account, citing anonymous sources.
Yuyuan Tantian is not among China’s most authoritative state media outlets. The Global Times, which is owned by the newspaper of the Chinese Communist Party, People’s Daily, has often been first to report China’s next steps in trade disagreements over the past few years.
Shares of contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) came under pressure yesterday after a report that Apple Inc is looking to shift some orders from the Taiwanese company to Intel Corp. TSMC shares fell NT$55, or 2.4 percent, to close at NT$2,235 on the local main board, Taiwan Stock Exchange data showed. Despite the losses, TSMC is expected to continue to benefit from sound fundamentals, as it maintains a lead over its peers in high-end process development, analysts said. “The selling was a knee-jerk reaction to an Intel-Apple report over the weekend,” Mega International Investment Services Corp (兆豐國際投顧) analyst Alex Huang
TRANSITION: With the closure, the company would reorganize its Taiwanese unit to a sales and service-focused model, Bridgestone said Bridgestone Corp yesterday announced it would cease manufacturing operations at its tire plant in Hsinchu County’s Hukou Township (湖口), affecting more than 500 workers. Bridgestone Taiwan Co (台灣普利司通) said in a statement that the decision was based on the Tokyo-based tire maker’s adjustments to its global operational strategy and long-term market development considerations. The Taiwanese unit would be reorganized as part of the closure, effective yesterday, and all related production activities would be concluded, the statement said. Under the plan, Bridgestone would continue to deepen its presence in the Taiwanese market, while transitioning to a sales and service-focused business model, it added. The Hsinchu
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) has approved a capital budget of US$31.28 billion for production expansion to meet long-term development needs during the artificial intelligence (AI) boom. The company’s board meeting yesterday approved the capital appropriation plan for purposes such as the installation of advanced technology capacity and fab construction, the world’s largest contract chipmaker said in a statement. At an earnings conference last month, TSMC forecast that its capital expenditure for this year would be at the higher end of the US$52 billion to US$56 billion range it forecast in January in response to robust demand for 5G, AI and
Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) investment project in Arizona has progressed better than expected, but it still faces challenges such as water and labor shortages, National Development Council (NDC) Minister Yeh Chun-hsien (葉俊顯) said yesterday. Speaking with reporters after visiting TSMC’s Arizona hub and attending the SelectUSA Investment Summit in Maryland last week, Yeh said TSMC’s Arizona site turned a profit of NT$16.14 billion (US$514 million) last year in its first full year of mass production. “TSMC told me it was surprised by the smooth trial run of the first fab, which has left the company optimistic about the project’s outlook,”