USTR Greer Says U.S. and China Weigh Tariff Pause, Trump-Xi Meeting

U.S. Trade Representative David Greer said Washington and Beijing are working on the details of a possible pause in certain tariffs, while cautioning that no major breakthrough should be expected in the current round of talks. He told CNBC the administration intends to keep monitoring compliance with existing agreements and to verify the so-called London Framework that governs trade in key materials. Greer added that both President Donald Trump and Chinese President Xi Jinping have signaled interest in holding a face-to-face meeting to move negotiations forward. The USTR characterized the overall tone as aimed at "moving forward in a positive way," but stressed that meaningful progress will take time. Current discussions are concentrated on sector-specific duties and the uninterrupted supply of industrial magnets, a component U.S. manufacturers have struggled to secure. Greer said shipments have recently improved and that further talks can proceed once the magnet issue is fully resolved.