US trade chief signals new tariffs as temporary duties near deadline
Jamieson Greer said tariff action may come soon as Trump’s temporary global duties face a Friday expiration without Congress.
By Sofia Marchetti · World Affairs Correspondent
3 min read
United States Trade Representative Jamieson Greer said another round of tariffs could be coming as President Donald Trump’s temporary global trade duties approach a Friday deadline. The remarks matter because the current duties were imposed under a law that lets the president act without Congress for only a limited period.
Greer told CNBC’s Squawk Box that officials “expect to see some action soon” when asked whether a new set of tariffs could affect 60 trading partners. He did not give a specific date for any announcement, according to Al Jazeera.
The White House imposed the current tariffs in February under Section 122 of the US Trade Act of 1974, Al Jazeera reported. That provision allows a president to apply tariffs of up to 10 percent for 150 days without congressional approval.
Al Jazeera reported that those duties are due to expire Friday unless Congress intervenes. The tariffs followed a Supreme Court decision that blocked Trump’s use of the International Emergency Economic Powers Act for broad global tariffs, with the court ruling that the president did not have that authority.
New levies under review
The White House has prepared another package of duties aimed at countries accused of various trade-related problems, including failure to address forced labour, Al Jazeera reported. Greer said the possible measures could apply to a majority of US trade.
Such a move would add pressure to trade relations with major partners, including China, Japan and the European Union, according to Al Jazeera. Greer’s comments came after the administration announced separate tariff actions against Brazil and Canada.
Last week, the White House announced 25 percent duties on thousands of Brazilian imports, Al Jazeera reported. The affected goods range from sugar to steel.
On Monday, the White House said it would impose a 50 percent tariff on some Canadian goods in 30 days, according to Al Jazeera. The products include wine and cement.
The White House accused Ottawa of discriminatory treatment toward US products, including automobiles and dairy goods. In a statement cited by Al Jazeera, the White House said Trump was acting to hold Canada accountable for what it called unfair treatment of US commerce that had burdened American workers.
Cost estimates and market reaction
Economic analysts cited by Al Jazeera said US consumers and businesses bear most of the tariff costs. The Kiel Institute for the World Economy found that US importers and consumers carry 96 percent of the burden.
The nonpartisan Tax Foundation estimated that the tariffs will raise the average tax burden on US households by about $700, according to Al Jazeera. The figures point to the domestic cost of duties that the White House says are meant to pressure trading partners.
US stock indexes were higher in midday trading, Al Jazeera reported. The Nasdaq rose 0.8 percent, the Dow Jones Industrial Average gained 0.6 percent and the S&P 500 was up 0.5 percent.
This story draws on original reporting from Al Jazeera.