Top US trade negotiator Jamieson Greer stated that the Trump administration plans to continue its tariff policy. This announcement came just after the Supreme Court ruled that many of Trump’s tariffs were illegal.
Greer emphasized the need for consistency in policy. He mentioned on ABC’s This Week, “We want to make sure businesses understand our direction.” Despite a poll showing that 64% of Americans disapprove of tariffs, Greer insisted that the administration would hold steady.
The Supreme Court ruling was a setback for Trump’s economic strategy, which relies on tariffs to push domestic manufacturing. Critics have argued that these tariffs have generally led to higher prices for American consumers rather than the intended boost for local businesses.
After the court’s decision, Trump announced a new global tariff increase from 10% to 15%. This move, Greer explained, is not linked to the previously illegal tariffs but represents a different approach under Section 122 of the Trade Act.
China’s Commerce Ministry responded by urging the US to lift its tariffs, noting that “protectionism leads nowhere.” Meanwhile, India postponed a planned trade delegation to Washington due to the ongoing uncertainty around tariffs.
Senate Minority Leader Chuck Schumer called the court’s ruling a win for American families, emphasizing that a president cannot impose tariffs without congressional approval. American small business owners, such as wine importer Victor Schwartz, expressed relief at the court’s decision. Schwartz described the chaos that previous tariffs caused for small businesses like his own, stating that it threatened their survival.
The Supreme Court’s decision asserts that Congress has the sole authority to levy taxes during peacetime, highlighting the delicate balance of power in trade policy. With the administration poised to implement new tariffs, there are questions about their long-term impacts on US consumers and businesses.
Treasury Secretary Scott Bessent noted that the administration will look to lower courts for guidance on any potential refunds for tariffs already imposed. The administration remains focused on reshoring American factories and addressing trade imbalances.
Critics, including California Governor Gavin Newsom, have labeled Trump’s tariff approach as erratic and ineffective. He described the situation as “madness,” pointing to diminishing economic growth and rising inflation as indicators of a struggling economy.
For ongoing updates on this topic, you can refer to trusted news sources such as ABC News and The Guardian.
Source link
