Washington: The United States will not bring any change to its pricing policy in the near future, the commercial representative of President Donald Trump has declared to the senators, warning that certain economic pain for companies will be necessary to bring back manufacturing jobs to the country.
During a sometimes tense audience of the US Senate Finance Committee, Greer said that higher levels of 57 business partners – from the European Union to China and Brazil – would take effect at 12:01 on Wednesday, just a few days after a 10% tariff was imposed on all other countries.
“The president was clear, once again, that he does not make short -term exemptions or exceptions,” said Greer.
Past tariff sculptures have created an “Swiss cheese” approach, full of holes, which has not slowed the growth of an American trade deficit of $ 1.2 Billion, he said.
To talk about commercial barriers
The Trump administration is negotiating with more than 50 countries, but Greer said that for help, business partners should reduce their pricing and non-tariff barriers to make trade with the United States more balanced.
China has retaliated, which has prompted Trump to increase the 104% American prices on all Chinese products since its entry into office.
Greer said that it was a “good news” that most business partners had chosen not to fight back.
“Other countries have indicated that they would like to find a path to reciprocity. China has not said that, and we will see where it goes,” said Greer.
He refused to provide a calendar for Trump’s commercial negotiations, but said that the USTR and other countries worked quickly – including day and weekend.
“The trade deficit has been decades in progress, and it will not be resolved overnight,” he said.
Pricing
Greer is Trump’s first sales manager to face the congress since Trump launched the first Salvos of his trade war against China in February. Since then, it has extended to Canada, Mexico, steel, aluminum and cars. Last week, Trump announced radical world prices.
Democrats have evacuated their frustration against Greer on functions. Some Republicans in agricultural states have also criticized prices.
Democrat Ben Ray Luján, from New Mexico, pushed Greer to concede that prices would harm families and businesses by price increases and stock market losses. Greer disagreed and said his concerns were more with Main Street than Wall Street.
“We cannot continue to do the same thing that we have always done, and if companies have trouble adjusting their supply chains – to which I am very sensitive – we must treat,” said Greer.
Thom Tillis, a Northern Carolina Republican, said he was skeptical about the administration’s decision to impose prices on the allies, noting that 4 million Americans were 65 years each year and saw their retirement savings decrease daily.
“I’m just trying to understand who I can stifle my throat if it’s bad,” he said, questioning the general approach.
Senator Mark Warner, a democrat in Virginia, raised his voice by questioning Greer on which the United States had hit the top Ally Australia with a tariff of 10%. The United States has a free trade agreement – and a rare trade surplus – with Australia.
“The idea that we are going to hit the friend and the enemy … is both insulting the Australians, undermines our national security and does not frankly make a good partner,” said Warner.
Greer criticized Australia for restrictions on American beef due to crazy cows disease, and said that with fewer commercial barriers, the United States “would increase the score” on Australia with an even greater trade surplus.