Hearing on the Trump Administration’s 2025 Trade Policy Agenda with Ambassador Jamieson Greer

Committee on Ways and Means

2025-04-09

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Source: Congress.gov

Summary

The Ways and Means Committee conducted a hearing on the Trump administration's trade policy, centered on President Trump's reciprocal tariff strategy to address longstanding trade imbalances. USTR Ambassador Jamieson Greer testified on how these tariffs aim to achieve reciprocity by reducing trade deficits and leveling the playing field for American producers, citing over 70 nations that have signaled interest in negotiating new trade agreements. The hearing focused on key economic challenges, including unfair tariffs from countries like China, India, and the European Union, and non-tariff barriers such as quotas and subsidies. Testimony highlighted the administration's efforts to protect American agriculture, promote domestic manufacturing, and strengthen trade relationships through targeted actions, including negotiating with allies like the UK, Canada, and Israel. The hearing also addressed concerns about market disruptions, rising prices for consumers, and the potential for retaliatory measures, emphasizing that the trade policy is designed to create a more balanced, fair, and enforceable global trade environment that benefits American workers and industries.

Participants

Transcript

Thank you.   Thank you.
The committee will come to order.  I first want to say congratulations, Ambassador Greer, on your confirmation and your immediate work on President Trump's bull trade agenda.  I know it's keeping you very busy.  Thank you for being here with us.  The only mistake is you went to the Senate before us, but you won't do that again, I'm sure.   The Trump administration's trade policies are leveraging the power of the world's largest market to create fair trade relationships that level the playing field for American farmers, workers, and producers.  The Trump agenda prioritizes the long-term prosperity of working families and communities ahead of short-term stock market swings.  The American people are counting on us to think beyond today's headlines and stay focused   on growing the economy and creating good paying jobs.  Prior to President Trump's reciprocal tariff action, an estimated two thirds of the 600,000 products exported by American companies paid higher tariffs than foreign trading partners paid on similar exports to the US.  Thailand charges a 50% tariff   on U.S. beef.  Japan charges a 700 percent tariff on U.S. rice.  Australia effectively blocks the sale of U.S. beef while we imported $3 billion from them just last year alone.  The European Union rejects our biotech crops through a torturous six-year regulatory process.  It's only fair   that we levy tariffs similar to the ones faced by American-made products.
Since inauguration day, we have seen more than $5 trillion in commitments for new investments in the U.S., including after the announcement of the reciprocal tariffs.  Since Liberation Day, nearly 70 different nations have come to the table asking to reset our trading relationship.   This approach will generate more market access under better terms for American producers.  And if any nation chooses not to cooperate, these tariffs, they will generate significant revenues.  Based on President Trump's tariff policies, so far it seems conservative to expect the U.S. to collect hundreds of billions of dollars in additional tariff revenue each year.   President Trump is continuing the successful strategy he used in his first term.  Tariffs brought China to the negotiating table for the phase one agreement, which has netted $40 billion in annual tariff revenue paid by importers from China and increased fairness for American producers.  Other agreements, like USMCA, opened markets for American-made products and ensured fair treatment for our workers and businesses.   An America-first trade policy is needed now more than ever.  America ran trillion-dollar goods trade deficits all four years under Biden.  Previously, America has never run even one year.  We ran a $32 billion agriculture trade deficit last year.  Under President Trump's first administration, we had an average annual   agriculture trade surplus of $5 billion.  The Biden administration failed to counter China's moves to reorder the global economy around Beijing.
Failure to assess whether China was adhering to the phase one agreement met the agreement was never truly enforced.  The Trump administration is reviewing potential violations of the agreement, as well as exploring Section 232   and 301 investigations to further address unfair trade barriers ripe for enforcement actions.  President Trump has made good on his promise to tackle China's abuse of our trade laws and ended its access to the de minimis privilege.  The administration's actions mirrored committee legislation passed last year   to crack down on the instance of China's trade abuse.  And President Trump has now set in motion a process to end the de minimis privilege globally to improve trade enforcement.  The Biden administration had to be dragged in defying Canada's denial of market access to our dairy farmers and Mexico's similar treatment of our corn farmers.  The Trump administration will enforce trade agreements to benefit   farmers, and ranchers.  Strong enforcement should be complemented with trade relationships that respect American workers and manufacturers.  President Trump's tariffs have set the stage for the United States to negotiate from a position of strength.  I fully anticipate more nations to come forward to reset their trading relationship with the United States.  I represent an agriculture and manufacturing region   Under unfair trade policies, we've had factories shut down and lay off people in our district.  The Dana Corporation, an auto parts company in Cape Girardeau, closed, killed 440 jobs and shipped them to Mexico.

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