USTR Says Trump Tariffs Won't Hurt Economy Despite Covering Most US Imports

U.S. Trade Representative Jamieson Greer said that President Donald Trump's latest tariffs on 60 trading partners will not have a significant economic impact. The new Section 301 duties are imposed at rates of 10% or 12.5%, which is similar to recent global tariff actions, according to Greer.

Greer stated that the new tariffs cover only a smaller group of countries than a previous temporary tariff, which had been applied universally. However, he noted that the forced labor duties would still apply to 99.4% of U.S. imports.

Greer also mentioned that the USTR is working on another broad tariff investigation under Section 301, targeting excess industrial capacity in 16 key trading partners, including China, Vietnam, Mexico, and the European Union. He stated that this could lead to additional tariffs in the future.