00:00It's a great question and a very valid question.
00:13I'm going to let the USTR, the trade rep, Jameson Greer, as well as Secretary of Commerce and Secretary Lutnik provide more detail on that.
00:22I know that's not exactly the answer that you want, but I will speak at a high level to the fact that China has abrogated the agreement.
00:30The United States acted immediately and in good faith, as of course you all saw, with the proclamation adjusting the tariff rate.
00:38China did not fulfill the obligations that it made and committed to with the United States.
00:42And so that opens up all manner of action for the United States to ensure future compliance.
00:50It remains the president's hope and desire that China will choose the path of cooperation, of common ground, and that we can open up China to American business.
01:02Just in the same way that America, of course, as we all know, has been open to Chinese business for a very long time now.
01:08So hopefully China will choose the path, to use a very common bureaucratic phase, of rules-based conduct, not a phrase I often use, but it applies here, and follow the agreement that they reached.
01:21Next question.
01:22How quickly was China respond to the president's command of human actions?
01:29Well, again, as I mentioned, China often says that it believes in the exact phrase of the rules-based international order, right?
01:35We've all heard that phrase from China over and over again.
01:37This is the chance to show what's serious about upholding that commitment to the rules-based international order.
01:42And as soon as possible is the best answer I can give you, we want to see them comply with their agreements with the United States and fulfill their obligations so that we can have, again, a relationship that is cooperative and that is constructive, which is what the president wants.
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