The Biden administration is aiming to reduce the US trade deficit, which exceeds a trillion dollars, by promoting American exports. This shift in focus comes amidst concerns about the impact of Trump-era tariffs on US jobs and businesses. Senators at Jamieson Greer's confirmation hearing for chief trade negotiator urged him to prioritize market access for American products.
US President Donald Trump’s prospective chief trade negotiator Jamieson Greer at his confirmation hearing in Washington on Feb 6. - Bloomberg
At a congressional confirmation hearing for US President Donald Trump’s prospective chief trade negotiator Jamieson Greer, senator after senator had the same demand: Amp up the market for America’s wares – from apples and whiskey to energy, digital goods and services. Unlike Trump’s more controversial nominees, such as Robert F. Kennedy Jr for health secretary, Kash Patel for chief of the Federal Bureau of Investigation and Tulsi Gabbard for director of national intelligence, Greer’s candidature faced hardly any resistance.
Greer promised to shake things up. “For many decades, we have had a trading system where the United States opens its market over and over again, and others do not. In India, for example, their average tariff rate on agricultural products is 39 per cent,” he said. Around 80 per cent of New England’s fuel comes from Canada, she pointed out. Before Trump delayed tariffs, some New Hampshire customers were told they would pay a 10 per cent surcharge on their bill, adding more than US$100 to fill a 1,041-litre tank, she said.
“I just have to tell , ‘You are just going to be, unfortunately, a victim of the trade war. Suck it up. It’s better for the country.’”For Republican Senator Steve Daines from Montana, the concern was small ranchers and farmers, who were paying for the previous round of tariffs on aluminium and steel. That had pushed prices up 15 per cent, which came to bite them when they bought large farming equipment, he said.
Economics TRADE DEFICIT TARIFFS EXPORT US ECONOMY AMERIAN PRODUCTS
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