US Trade Rep. Greer Talks 15% Tariff, USMCA, EU Trade Deal
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Let's turn to tariffs. The big story, the president doubling down on his trade agenda. An unfortunate ruling from the United States Supreme Court. Almost all countries and corporations want to keep the deal that they already made. The legal power that I, as president, have to make a new deal could be far worse for them. The president pledging to use alternative legal authorities to impose new duties following the Supreme Court's ruling against the tariff agenda. I'm very pleased to say they're making some time for us this morning. It's the U.S. Trade Representative Jameson Greer. Ambassador Greer, welcome to the program, sir. We need to spend some time with you talking about the next year, particularly the next 150 days.
But there is some intrigue over the last week. Let's talk about the last week and particularly on Friday. There is now a new baseline tariff. of 10%. Why did we start with 10% when the president appears to want 15?
So the authority that we're using right now, which is a temporary 150-day authority, that's five months, 150 days. And we have a lot of countries out there that for a long time have had 10%. We have some that have higher at 15%. And so our goal with all of this is to have continuity. So we want to have the 10% and we're looking about how to implement the 15% that the president indicated because we want to have continuity. We want the countries, we want the companies, we want people to understand that what we were doing before, we're going to reconstruct with alternative tools because we want to keep going, maintain the policy. We'll just have a change in the legal implementing authority.
Ambassador, you're giving me the impression that this is still under conversation, negotiation perhaps internally. When the President was pretty explicit over the weekend in his own words, I, as the President of the United States of America, will be effective immediately raising the 10% worldwide tariff on countries, many of which have been ripping the U.S. off for decades, without retribution to the fully allowed and legally tested 15% level. How can we sort of explain that, which is rather explicit, with the more nuanced tone you're offering this morning?
So we'll put out a supplemental proclamation that the president will sign going to 15% where appropriate. Remember, before the Supreme Court struck down the tariffs, a lot of these countries had agreed to have tariffs, U.S. tariffs on them of 18%, 19%, 20%. So going up to 15%. For them, at least temporarily, it's better than the deal that they had. And so the president wants to make sure, again, that we have continuity in this process, that folks who acknowledge they had giant trade surpluses with us, they had unfair trading practices affecting their trade, and who agreed to pay the tariff, that they actually are in a position to do it until we can get the more durable and long-lasting measures in place.
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