On U.S.-China trade prospects, he labeled it a
“big if” on whether a trade deal can be struck. He and Treasury
Secretary Steve Mnuchin will meet with Vice Premium Liu He in Osaka,
Japan to lay the groundwork for meeting between President Donald Trump
and Chinese President Xi Jinping.
Lighthizer will also talk with Liu yet this
week, he noted. "When actual negotiations begin again, I cannot say at
this point, but we are talking, we are going to meet," Lighthizer
observed.
As for Japan, Lighthizer acknowledged to both
chambers that U.S. agriculture is going to be “treated worse than our
competitors” due to Japan’s trade deal with the European Union (EU) and
the successor deal to the Trans-Pacific Partnership (TPP).
“We understand the nature of this problem and
our farmers are going to lose that market,” he stated. He reiterated a
hope of striking an ag-related deal with Japan in the “weeks and months
ahead.”
On the U.S.-Mexico-Canada Agreement (USMCA),
Lighthizer warned lawmakers it would be a “catastrophe” not to approve
the deal. "If we are in a position where we literally cannot pass this
agreement, what does that say about our resolve to have a fair-trading
system?" he observed, noting China and others will be watching the issue
closely.
As for new bilateral trade deals, the issue
surfaced in particular on the House side. Lighthizer explained his basic
views on such efforts. Asked about the potential for one with
Switzerland or others, Lighthizer said,
“When I am asked about this, I always say to
myself, ‘Tell me what more we are going to sell you, right?’ I want to
know why this is going to make somebody, somewhere in America … a little
bit richer. If it does not do that, it is probably not worth my time,”
Lighthizer concluded.
President Donald Trump accelerated expectations
for positive results of the now-scheduled meeting with Chinese President
Xi Jinping at the G20 summit next week in Osaka, Japan.
Trump, who revealed he had a “long talk” with Xi
on the phone Tuesday morning, said “China very much wants to discuss
the future and so do we.”
Trump predicted a “very good chance” of working
out a trade agreement and that some lower-level discussions would begin
Wednesday. “I think China wants to make a deal. They do not like the
tariffs. A lot of companies are leaving China in order to avoid the
tariffs,” Trump said to reporters.