WASHINGTON (TNND) — The President's global tariffs are set to fully take effect Wednesday, sparking a mix of international negotiations and domestic concerns. The administration claims the new fees are drawing countries to the negotiating table, while Republicans say they're hearing from nervous constituents.
United States Trade Representative Jamieson Greer started off his two days of meetings on Capitol Hill with a hearing in front of the Senate Finance Committee. He told Senators the new tariff policy is yielding results.
"Nearly 50 countries have approached me personally to discuss the president's new policy and explore how to achieve reciprocity. Our large and persistent trade deficit has been over 30 years in the making, and it will not be resolved overnight, but all of this is in the right direction," Greer said.
The White House says upwards of 70 countries have called wanting to make a deal. World leaders are responding in various ways, with some agreeing to cut tariffs on certain products, while others have refrained from retaliatory measures. Some nations have promised to send delegations for in-person talks.
The financial markets have experienced volatility since the tariff threats, with a slight rebound early on Tuesday that didn't last throughout the day. There have been major selloffs since the President's tariff announcement. Home Depot co-founder and major Republican donor Ken Langone is among the growing number of Republicans frustrated by the tariffs. He criticized the new levies in an interview with the Financial Times, saying in part "I believe he’s been poorly advised by his advisers about this trade situation."
Republican Senators also expressed some of their concerns during Greer's meeting, highlighting the anxiety among their constituents regarding financial futures.
I hope you and the President are very sensitive about companies potentially going bankrupt by these actions," said Sen. Ron Johnson, R-Wisconsin.
Sen. Thom Tillis, R-North Carolina, questioned who would be responsible if the plan backfires.
Because it’s a novel approach and needed to be thought outwhose throat do I get to choke if this proves to be wrong?" Sen. Tillis asked during the Tuesday hearing.
I’m at the tip of the spear, certainly," Greer responded.
A dispute within the White House over the tariff strategy has also emerged, with Presidential Advisor Elon Musk and Trade Advisor Peter Navarro publicly clashing. Musk advocated for a zero-tariff situation between the U.S. and Europe, while Navarro criticized Musk and Tesla, labeling them as car assemblers rather than manufacturers. Musk responded on social media, calling Navarro a "moron." White House Press Secretary Karoline Leavitt brushed the spat off, saying "boys will be boys."
The ongoing tariff debate with China remains a critical issue, as both nations continue to threaten additional fees. Beijing has vowed to "fight to the end" on the issue.