President Trump announced upcoming meetings with European and Chinese officials to discuss trade, signaling a continued focus on reshaping the U.S. economy towards manufacturing.
The President stated that European representatives are scheduled to visit “tomorrow, the next day,” following a recent letter threatening European Union member states with a 30% tariff on their goods, set to take effect August 1. Concurrently, the Trump administration has a separate negotiation period with China, currently scheduled to conclude on August 12, during which Chinese goods face an additional 30% baseline tariff.
Treasury Secretary Scott bessent confirmed his attendance at meetings with Chinese counterparts in Stockholm, Sweden, next Monday and Tuesday. Bessent articulated his objective as reorienting the American economy from consumption towards manufacturing, while simultaneously encouraging greater consumer spending within China’s manufacturing-centric economy. He expressed this vision on the Fox Business Network programme Mornings with Maria, stating, “President Trump is remaking the U.S. into a manufacturing economy. If we could do that together, we do more manufacturing, they do more consumption. that would be a home run for the global economy.”
