The top of the nation trade The representative said on Tuesday that the scanning of American president Donald Trump price Already obtain results, bringing other countries to the negotiating table to discuss the reduction of their commercial obstacles, but American consumers and companies have admitted to be confronted with short -term challenges.
The US trade representative, Jamieson Greer, addressed to the Senate Committee finance one day after the world markets were sliced wildly and some business leaders castigated the president’s aggressive offer to increase the prices on almost all the nations of the earth.
Greer said that about “50” countries have asked for talks to escape Trump’s import rates. He said, for example, that Vietnam cuts its own prices on apples, almonds and cherries. The White House press secretary Karoline Leavitt later quoted the US Secretary of the Treasury, Scott Bessent, saying that the number of countries looking for new commercial negotiations was now around 70.
Import taxes are designed to reduce the massive trade deficits of America, but Greer has conceded that it would take time and that the adjustment could “be sometimes difficult”.
Legislators, including Republicans, become nervous on Trump’s trade wars, especially since the actions collapsed after announcing large prices on Wednesday. The market rebounded Tuesday in the hope that negotiations will convince the president to reduce or suspend the prices, the largest of which should take effect at midnight on Wednesday.
“It seems that we have decided to start a trade war on all fronts,” said Républicain Thom Tillis of Caroline du Nord. He said he wanted to know who in the Trump administration, he should be responsible – and “suffocate” – if the prices failed and the Americans were suffering.
“I wish you good luck,” he told Greer. But I am skeptical. “
Although Canada has not been included in Trump’s world prices, the country is still struck by automotive, steel and aluminum prices, and still faces the continuous threat of fentanyl rates on the economy scale.
Greer has told senators that most Canadian imports that comply with the Canadian-American-trade in trade is still not affected by prices. Canada would face a “reciprocal” rate of 12% if these fentanyl rates were deleted, the White House said last week.
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Several senators demanded that Greer explain what the administration was trying to accomplish. At various times, Trump said the prices were intended to raise funds for the Treasury, bring back manufacturing to the United States, protect the national industries and ensure that other countries are concession.
“What’s the plan?” Said Senator Ron Wyden of Oregon, the best democrat of the committee. “Last week, the White House was everywhere on the map with regard to these prices. There is no clear message on how they were determined, which they are supposed to accomplish, how long they will be in place, whether it is a negotiation tool or a decision to try to reduce the United States of world trade and inaugurate a new era of the 1870s protectionism. ”
Senator Chuck Grassley, R-Iowa, said that he would oppose prices if they are only intended to increase the revenues of the federal government and not to open foreign markets to American exports.
The Constitution gives the congress the power to set taxes, including the prices. But the legislators gradually sold this authority to the White House.
Trump was particularly aggressive to use the powers of the presidency to impose his commercial program. He claimed the emergency authority to impose his massive prices last Wednesday. Previously, he used the same powers to strike Chinese, Canadian and Mexican imports.
Trump has also bypassed congress to tax steel, aluminum and automobile imports on the grounds that they are a national security threat to the United States.
Now, legislators – including certain Republicans – suggest that Congress must reaffirm its authority on trade.
“The chaotic and chaotic tariff series by Donald Trump has undoubtedly proven that the congress gave far too much of its constitutional power on international trade in the executive branch,” said Senator Ron Wyden of Oregon, a high -level democrat of the finance committee. “It’s time to bring this power back.”
Grassley, the republican of Iowa and the Democratic Senator Maria Cantwell of Washington presented legislation last week which would force the presidents to justify new prices in the congress. The legislators would then have 60 days to approve the prices. Otherwise, they would expire.
The head of the majority of the Senate, John Thune, has shown no sign that he would authorize a vote on a Bipartisan bill which would exercise monitoring of the Congress of Trump prices.
“I don’t think it has a future,” said Thune about a Grassley and Cantwell bill.
—Ap the writer Lisa Mascaro contributed to this report. Additional Canadian press files and world news
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