WASHINGTON — The Treasury Secretary highlighted concerns about China’s dominant role in global manufacturing, stating it has grown “far too high” in recent years. He emphasized the need for the U.S. to restore balance and boost its manufacturing sector.

“President Trump aims for the U.S. to become a manufacturing leader again, especially in precision manufacturing. Meanwhile, China continues to increase its manufacturing share,” he said during an interview with Post columnist Miranda Devine on “Pod Force One.”

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The official noted that China’s 30% share of global manufacturing is “already too high — it can’t go higher,” adding that this level is unsustainable for the U.S. economy.

Recent talks with Beijing aimed to establish a permanent trade agreement, with initial discussions held in Switzerland in May. The goal was to reduce trade tensions following the escalation of tariffs—initially 145% on Chinese goods by the U.S., and 125% by China on American imports.

Despite these measures, the U.S. managed to decrease Chinese tariffs to 10%, while imposing a counter-rate of 30% on Chinese products, on top of existing duties.

Following recent negotiations in London, the U.S. and China are working toward easing export controls. “We tried to lift some export restrictions, but issues like magnet flow in Geneva remain unresolved. Meanwhile, we’ve implemented measures like embargoes on aircraft engines and parts,” he explained.

The official indicated plans to meet with Chinese representatives in about three weeks to continue negotiations, aiming for market openings and greater American exports. “The understanding is that if both sides agree, we’ll adjust tariffs accordingly, leading to balanced trade,” he said.