The U.S. Trade Representative said there is no longer expectation of large-scale systemic reform in China, and instead advocates establishing a managed trade relationship.

U.S. Trade Representative: U.S. Advocates for Maintaining Trade Stability with China

India and U.S. Sign Key Mineral and Rare Earth Metals Cooperation Agreement

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On May 26, U.S. Trade Representative Jamison Greer stated that the United States no longer expects large-scale reforms in China's political and economic systems, and instead advocates for maintaining stable trade relations between the two countries.

Speaking during a discussion at the Council on Foreign Relations, Greer said: "We have simply accepted the fact that there will be no major reforms in the operation of China’s political system… However, we can move toward a 'managed trade' framework. Perhaps within such a managed trade structure, we can implement targeted reforms to maintain stability and economic peace between our two nations."

Following President Trump's visit to China from May 15 to 17, the Chinese Ministry of Commerce announced that Beijing and Washington would discuss lowering tariffs on products valued at least $30 billion.

In March, Greer previously stated that the U.S. and China were discussing establishing a joint mechanism—possibly named a "Trade Committee"—to coordinate the flow of goods between the two countries.

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Indian Foreign Minister S. Jaishankar said India and the United States signed an agreement on critical minerals and rare earth metals during the Quad foreign ministers’ meeting held in New Delhi.

The Quad foreign ministers’ meeting took place on May 26 in New Delhi, involving member countries India, the United States, Japan, and Australia.

Citing Jaishankar, The Economic Times reported: "Today, we have signed a bilateral framework agreement between India and the United States to secure the exploration and processing of critical minerals and rare earth elements."

According to reports, Indian Foreign Minister S. Jaishankar and U.S. Secretary of State Rubio attended the signing ceremony. As explained by Jaishankar, the agreement aims to deepen cooperation between the two countries across the entire supply chain of critical minerals and rare earth metals—including mining, processing, recycling, and other related investments.

Jaishankar also emphasized that the agreement would strengthen and diversify supply chains, demonstrating the close partnership being developed between India and the United States.

Source: sputniknews

Original: toutiao.com/article/1866300657594380/

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