Trump Trade Rep Asked: 'Will Higher Tariffs Go Into Effect Tomorrow As Announced?'

2 days ago

At today's Senate Finance Committee hearing, Sen. Ron Wyden (D-OR) questioned U.S. Trade Rep. Jamieson Greer about President Trump's tariffs.

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Transcript

00:00Thank you very much, Mr. Chairman. I saw at page four of your testimony, Mr. Greer, you said the president's strategy is already bearing fruit.

00:09Well, I can tell you for a lot of Oregonians who have 401ks that are being drained out, that's pretty rotten stuff.

00:16And you ought to realize how serious this is for the country.

00:20Now, everybody in the administration practically has a different story about the Trump tax hike.

00:25So I'm interested in knowing what the story is today.

00:31Will higher tariffs go into effect tomorrow as announced?

00:37Senator, yes, they're scheduled to go into effect.

00:40We are having negotiations with all kinds of countries at this time.

00:44The president's fixed in his purpose.

00:47The nature of the emergency that I discussed earlier is not something we can wait on anymore.

00:51So we will have the president's plan go into effect, and we're coupling that with immediate negotiations with our partners as they seek to...

00:58So it's not a question of something being scheduled.

01:00You're committing this morning that they're going to go into effect.

01:04This is what the president has said, Senator.

01:06How many countries? I understand it's over 50.

01:10That are negotiating with us.

01:11We have about 50 that have come to speak with us, and I'm constantly talking to my counterparts.

01:18I have staff right now at USTR meeting with others, and we will have the tariffs in place.

01:23And if the other countries can come to an agreement on reciprocal trade, then that's something that the president can consider.

01:28I don't want to prejudge the negotiations or the president's decision, but that's what we're doing.

01:32Now, you've said you've been negotiating deals.

01:36Foreign countries have already retaliated against our farmers and ranchers and small businesses.

01:42How can you commit that negotiations are not just going to stop bleeding,

01:46but are actually going to open up markets that the Trump tariffs have closed off?

01:53So, Senator, we've already had many countries, many of our markets,

01:57explain that they are not going to retaliate against the United States.

02:01And, in fact, Vietnam, for example, they've lowered their tariffs already on cherries.

02:06They've lowered them on almonds and apples, things I know are important to the Pacific Northwest.

02:10And this is exactly the right direction that we want to go in.

02:13I look forward to hearing from you what other kind of market access you want as we enter into these negotiations.

02:17What's the status of China?

02:18As you know, that's a big market for us in the Pacific Northwest.

02:21What's the status of discussions there?

02:23I don't see much progress.

02:24What I see is it looks like it's going to escalate and escalate some more

02:29and hurt our consumers and our small businesses in our part of the world.

02:32Well, Senator, unfortunately, China, for many years, seems to be choosing its own path on market access.

02:37Again, they have agency in this.

02:39They elected to announce retaliation.

02:42Other countries did not.

02:43Other countries signaled that they'd like to find a path forward on reciprocity.

02:47China has not said that.

02:48And we will see where that goes.

02:51I think we need to work with our closest friends to make sure that we have trading arrangements that work.

02:56And if the Chinese are open, you know, we'll see what.

03:00But they haven't signaled that at all.

03:01So I don't think that's the I don't think that's in the very near term with China.

03:05I just am concerned that there's no strategy at all.

03:08I'm committed.

03:10We understand in the Pacific Northwest what the stakes are to have a smart, tough strategy.

03:15I don't see any strategy at all.

03:17And you really haven't said much about what the strategy is this morning.

03:22Senator, I appreciate your concern.

03:24I want to keep having a conversation with you about this.

03:27But I see a distinct difference between those countries who have come to us and they said, we understand your issues.

03:32We understand the deficit.

03:34We understand your desire for reciprocity.

03:35And we want to work with you on this.

03:38And the Chinese approach, which has been we're going to retaliate.

03:41We're trying to remedy a situation.

03:43We're trying to remedy a situation that's persisted for many years.

03:47And it would it would be wonderful if the Chinese agreed with that and wanted to persist in, you know, work with us on that.

03:53But that's not where they are.

03:54And the president has recognized this and he wants to focus on other partners.

03:57Let's talk before my time is up about services.

03:59The United States is a services powerhouse from travel and technology to finance and media.

04:05Our services industry account for nearly 80 percent of the U.S. GDP and eight out of 10 American jobs.

04:11Other countries are responding to Trump's global tariffs by retaliating against American services.

04:18Can you explain how your tariff actions aren't putting our services exports at risk like so much of your trade policy?

04:25Senator and Chairman Crapo mentioned this.

04:28We had India already pull down a digital advertising tax that affected some of our most competitive tech companies.

04:36We're already in conversations with other countries that if they want to have reciprocal trade with us, that's something that we need to consider as well.

04:44And we expect them not to discriminate against our services companies.

04:47We have some of the most competitive in the world.

04:49I agree with you.

04:49And to me, that's part of this calculation.

04:51I wrapped up with the services question because it seems to me it's classic Donald Trump.

04:56Really good at talking about problems, even saying that there is some reason to go forward, identifying a problem, but pretty damn bad at fixing them.

05:07And there's going to be a whole lot of collateral damage in the process if you all continue with these trade policies and services and in other areas.