On Tuesday morning at Capitol Hill, U.S. Trade Representative Jamieson Greer testified before the Senate as senators questioned him about the impact of tariffs on the markets. Greer defended the president’s tariff strategy, claiming that nearly 50 countries were approaching him to negotiate but faced skepticism from Democrats who questioned the feasibility of quick negotiations with newly sanctioned countries. Despite Greer’s testimony, the markets remained relatively stable, with lawmakers closely monitoring the fluctuations as they started to get feedback from constituents.
The ongoing trade war has stirred uncertainty in the markets, with lawmakers expressing concerns about the impact on Americans’ finances. Several Republicans and Democrats criticized President Trump for imposing tariffs without consulting Congress, raising questions about the administration’s strategy and rationale. While the Office of the U.S. Trade Representative claims that the tariffs were within the president’s statutory authority, some lawmakers argued that Congress should have been more involved in the decision-making process.
During Greer’s testimony before the House Ways and Means Committee, Rep. DelBene questioned him about the president’s use of emergency powers on the tariffs and argued that consultation with Congress was required by law, which did not happen in this case. Just hours later, President Trump announced a pause on most tariffs for three months while still imposing steep tariffs on China, leaving lawmakers perplexed about the sudden change in trade policy. Rep. Horsford expressed frustration over the lack of clarity and communication from the administration, questioning if the president’s actions amounted to market manipulation.
After facing tough questions from lawmakers regarding the president’s trade policy decisions, Greer was pursued by reporters seeking more clarity on the administration’s strategy. Greer appeared evasive in his responses and was criticized for not being forthcoming about the sudden change in trade policy announced during his testimony. Lawmakers, both Republicans, and Democrats, expressed concern over the lack of transparency and coordination in the administration’s approach to trade negotiations, with some questioning the decision-making process that led to the sudden shift in policy.
As the trade war continues to escalate, lawmakers grapple with the implications of tariffs on the economy and the markets. Democrats and some Republicans are calling for more congressional oversight and input in trade negotiations, emphasizing the need for transparency and accountability in the decision-making process. While Greer defended the administration’s tariff strategy and expressed confidence in its success, lawmakers remain wary of the potential consequences for American consumers and businesses. The future of U.S. trade policy remains uncertain as Congress seeks to assert its constitutional authority over tariffs and trade agreements.
