The top U.S. trade official is answering tough questions about President Trump’s tariff policy. U.S. Trade Rep Jamieson Greer said he understands the concerns and assured lawmakers the President is willing to make deals.
“It’s going to be country by country. There can be some countries where they’re not able to address their non-tariff barriers, or tariffs, or the deficit fully, and there will be others who I think will be able to do that, and where the President will have the option of making a deal with them. So we’re certainly seeking reciprocity. Now, if we have the tariff on a country, there’s obviously going to be a revenue effect, but we need to restore manufacturing, we need to get rid of our agricultural deficit, and we need to make sure that if countries are going to trade with us, it has to be on a reciprocal basis.”
A bill was filed this week to give Congress more control over tariff power. Iowa Senator Chuck Grassley helped author the legislation but says this is nothing new and has nothing to do with President Trump personally.
“I’m doing it because he brings the issue up. People are listening to things about tariffs, it gives me a chance to talk about the constitutional responsibilities under Article One of the Constitution, one of the 18 powers for Congress to regulate interstate and foreign commerce; gives me a chance to educate people about the 63 and 74 trade bills that delegated so much of this authority to the President of the United States; and it gives me an opportunity to say that Congress made a mistake in those trade bills, and we ought to correct it.”
Another issue Grassley is hoping to address in the coming weeks is biofuel policy. He has joined other lawmakers asking the EPA to raise volume obligations under the Renewable Fuel Standard.
Shaun Haney joined RFD News to discuss the potential impact of the Trump-Xi summit uncertainty, ongoing agricultural trade talks, and why geopolitical developments could carry important implications for farmers and global commodity markets.
