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00:00We have
00:29reached
00:31an agreement
00:34on a 90-day
00:36pause
00:37and
00:39substantially
00:41moved down the tariff
00:44levels. Both sides
00:46on the reciprocal tariffs
00:48will move their tariffs down
00:50115%.
00:51We had
00:58very robust discussions.
01:01Both sides
01:04showed great respect.
01:07One,
01:09throughout
01:09the trade process,
01:12we have had
01:13a plan,
01:16we have a process
01:17in place, and now
01:19with the Chinese,
01:22after this weekend, we have a
01:23mechanism for continued talks.
01:26So, process,
01:28plan, and mechanism.
01:31I would say
01:32one of the
01:34big takeaways
01:36from this weekend,
01:37the United States will continue
01:39a strategic
01:42rebalancing
01:43in many areas that were
01:46exposed as supply chain
01:48weaknesses
01:48during COVID,
01:51whether it's
01:52medicines, whether it's
01:54semiconductors,
01:56steel,
01:57the other,
01:58we've identified
02:00five or six
02:01strategic industries
02:04and supply chain vulnerabilities,
02:06and we will continue
02:07moving toward
02:09U.S.
02:10independence
02:10or
02:11reliable
02:13supplies from
02:14allies on
02:15those,
02:16but
02:16the consensus
02:18from both
02:19delegations this
02:20weekend
02:21is neither
02:22side wants
02:23a
02:24decoupling,
02:25and what had
02:27occurred
02:28with these
02:29very high tariffs,
02:31as Ambassador Greer
02:32said,
02:32was
02:33the equivalent
02:35of an embargo,
02:36and neither
02:37side wants that.
02:39We do want
02:40trade,
02:41we want more
02:42balanced trade,
02:43and I think that
02:44both sides
02:45are committed
02:46to achieving that.
02:48Was that the
02:49president pushing you,
02:50or the Chinese?