U.S. Trade Representative Confirms Trump's Tariff Rates Are "Pretty Much Set" - PRESS AI WORLD
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U.S. Trade Representative Confirms Trump's Tariff Rates Are

Credited from: THEHILL

  • U.S. Trade Representative Jamieson Greer states that Trump's new tariff rates are unlikely to change soon.
  • New tariffs range from 10% to 50% on various countries, including Canada and Brazil.
  • Greer noted tariff rates are based on established deals and trade deficits.
  • The tariffs are seen as a means to reshape America's trade relationships.
  • Legal challenges against the tariff measures are already emerging in U.S. courts.

U.S. Trade Representative Jamieson Greer has confirmed that the newly imposed tariff rates are "pretty much set," indicating limited room for negotiation in the near future. These tariffs, which will come into effect on August 7, encompass a wide range of goods from over 60 trading partners, including significant duties of 35% on Canada and 50% on Brazil, according to CBS News, The Hill, and India Times.

Greer elaborated that the tariffs are primarily determined by existing trade agreements or arrangements that may not be public. "A lot of these are set rates pursuant to deals... others depend on the level of the trade deficit or surplus we may have with the country," he explained, as reported by Dawn and Reuters.

The executive order signed by President Trump modifies the baseline tariff that will be applied to all imported goods, establishing a baseline of 10%. Higher rates have been allocated to countries like Syria and Brazil due to various factors including trade negotiations and geopolitical concerns. "We're seeing truly the contours of the president's tariff plan right now with these rates," Greer noted during an appearance on "Face the Nation," according to Channel News Asia and CBS News.

While some international trade ministers may seek to negotiate the tariffs further, Greer expressed skepticism about the likelihood of any declines in current rates. He emphasized that the President is focused on addressing trade imbalances and reshoring manufacturing jobs back to the U.S. "This isn't just about tariffs; it's about creating incentives for American industry," he stated, as reported by The Hill and Dawn.

As the Trump administration moves forward with these tariffs, legal challenges are starting to emerge, questioning the authority used to impose them. An appeals court has shown skepticism towards the government's stance, indicating that this issue may escalate to the Supreme Court, according to India Times and Reuters.

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