U.S. Confirms Setting Tariff Rates
(MENAFN) United States trade envoy Jamieson Greer stated on Sunday that the latest tariff levels announced by President Donald Trump are "pretty much set," suggesting minimal room for swift renegotiation.
During an interview with a news agency, Greer was questioned about the possibility of reducing the newly imposed duties.
He replied, "I don't think they will be in the coming days," emphasizing that many of these levies are established in accordance with existing agreements. "These tariff rates are pretty much set," he reiterated.
Greer defended the decision to raise tariffs on Canadian goods from 25% to 35% in response to Ottawa’s retaliatory actions.
He highlighted that, other than China, only Canada had imposed retaliatory tariffs against the United States.
"If the president is going to take an action and the Canadians retaliate, the United States needs to maintain the integrity of our action," Greer explained.
When asked about Brazil’s 50% tariff rates despite the U.S. maintaining a trade surplus with the country, Greer pointed to the existence of two different frameworks.
One involves a 10% reciprocal duty, while the other includes a 40% tariff applied under the International Emergency Economic Powers Act (IEEPA) due to "geopolitical issues" concerning the South American nation.
Addressing the continuation of the tariff suspension on Chinese goods, Greer conveyed a hopeful outlook. "Our conversations with the Chinese have been very positive. We're working on some technical issues ... I think it's going in a positive direction," he said.
After recent talks in Stockholm, Sweden, Chinese representatives revealed that both parties had agreed to prolong the deadline for the trade agreement originally set to end on August 12.
However, U.S. officials noted that this extension would ultimately depend on President Trump's final authorization.
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