Senator Lujan Confronts US Trade Rep Greer on Trump Tariffs and Economic Impact

Lujan Questions Trade Representative on Tariff Impact

• 🎯 Senator Ben Ray Lujan initiated a discussion with US Trade Representative Jamieson Greer regarding President Trump's recent tariffs.
• ⚠️ Lujan described the tariffs as a "reckless tariff war" that is causing higher costs for families and hurting businesses nationwide.
• 📈 He pointed to a significant drop in the stock market, one of the worst in over 35 years, as a consequence.

Greer's Response to Economic Concerns

• 📊 Greer stated that the allocation of costs between foreign producers and importers is not yet clear and that data is still being gathered.
• 💬 He acknowledged varying business views, with some excited about prospects and others concerned due to import dependency.
• 🇺🇸 Greer emphasized the goal of incentivizing production in the United States and making North America competitive, citing duty-free trade with Canada and Mexico under specific conditions.

Debate on "Feeling Pain"

• 🗣️ Lujan pressed Greer on whether President Trump's tariffs would harm New Mexican businesses and families, a question Greer had previously dodged.
• 🤝 Greer indicated that if companies feel pain adjusting supply chains to include more American products and workers, it's an adjustment needed for the future.
• 🎤 When directly asked if he agreed with President Trump that families would have to "feel a little pain," Greer eventually agreed, framing it as a necessary adjustment.

Lujan's Counterarguments and Call for Honesty

• 💰 Lujan cited economists predicting the trade war could cost American families around $4,000 per year and disagreed with the notion of families needing to feel pain.
• 📢 He urged Greer and his colleagues to "own up to what you want to do" and be honest with the American people about the impacts.
• 🌾 Lujan highlighted concerns from farmers and ranchers facing reduced grants and the impact of tariffs on inputs, suggesting these actions are hurting them.

Defense of Trade Policies

• 📈 Greer countered that previous predictions of economic crashes under Trump's trade policies did not materialize, citing an increase in real median household income and decreases in inflation and unemployment after tariffs on China.
• 🏛️ He stated a commitment to transitioning away from Wall Street's dominance in the economy and addressing supply chain adjustments.