USTR Greer on Trump's Trade Policy: Resetting Global Order, Tariffs, and China Deals

Resetting the Global Trading Order

• 🎯 The Trump administration has reset the global trading order to move from a purely liberal trade approach to one that is fair and balanced.
• 📈 In 2025, the administration expects to finalize numerous trade deals and maintain existing tariffs, with potential conversations for countries not complying with agreements.

Tariffs and Supreme Court Challenges

• ⚠️ A Supreme Court overturn of tariffs enacted under EPA provisions would be disastrous, as the new global trading order is built upon this tariff system.
• 🛠️ The administration is committed to doing whatever is necessary to maintain needed tariffs and keep existing deals in place, even without the flexibility of presidential emergency powers.

Trade Policy and Affordability

• 🍎 While addressing affordability is a presidential priority, the focus of trade policy is on creating jobs and reshoring American manufacturing, not directly driving down consumer prices.
• 📈 Reductions in tariffs on goods like bananas, coffee, and cocoa, which are not produced domestically, have helped lower prices for basic staples.

TikTok Deal and US-China Relations

• 🤝 An agreement has been reached with China for them to approve a private sector deal for TikTok's US operations, aligning with a prior government-level agreement.
• ⚖️ Export control issues, such as selling chips to China, are viewed as national security and commercial decisions rather than negotiated outcomes.
• 📈 The goal for US-China trade is stability and balance, with a potential for an agreement on trading volumes in the first half of 2026, moving towards a form of managed trade.

Tech Wars and Trade Barriers

• 🚫 Concerns are being raised about discriminatory regulatory measures by Europe against U.S. tech companies, which appear to target American firms despite claims of fairness.
• 🌍 Dealing with Europe on trade has been more contentious than anticipated, with non-tariff barriers and regulations excluding U.S. agriculture and industrial exports.
• 🤝 Mexico has been constructive in recent discussions, and while they have requested modifications to steel and aluminum tariffs, these are part of broader negotiations.