Wait for Results of Trump's Tariff 'Experiment': Greta Peisch
April 8, 2025
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6:05Now PlayingWait for Results of Trump's Tariff 'Experiment': Greta Peisch
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as posted by the channelGreta Peisch, former USTR general counsel, reacts to testimony from US Trade Representative Jamieson Greer on Capitol Hill and breaks down the potential impact of reciprocal tariffs.
Greta Peisch, former USTR general counsel, reacts to testimony from US Trade Representative Jamieson Greer on Capitol Hill and breaks down the potential impact of reciprocal tariffs on the US economy.
US President Donald Trump spent the final hours before his tariffs were set for full implementation lining up negotiations with key US allies, but his insistence on pushing forward with sweeping 104% tariffs on many Chinese goods dimmed optimism that a brutal trade war would be avoided.
Trump and top administration officials on Tuesday signaled the US was open to dealmaking that could reduce or eliminate higher tariffs on dozens of nations as Asian and European leaders announced plans for talks with the White House.
Still, Trump is pushing ahead with higher duties on roughly 60 trading partners that he dubbed the “worst offenders” are set to take effect after midnight New York time. And the White House said Trump is proceeding with tariffs that would amount to 104% on many Chinese goods. That package includes previous levies applied because of the fentanyl crisis, his reciprocal tariffs, as well as an additional retaliation Trump announced after Beijing said it would tax US exports to China.
The threats came after Beijing made clear it did not intend to back down from a trade war. Trump said in a social media post he was waiting for a call from Chinese officials, and accused them of mishandling the situation.
“China also wants to make a deal, badly, but they don’t know how to get it started. We are waiting for their call. It will happen!” the president said.
The maximalist approach to China came even as the president signaled a fresh willingness to entertain requests from other countries to reduce the tariffs he announced last week.
Trump said prospects for a trade deal with South Korea were “looking good” after a phone conversation with acting President Han Duck-soo.
“We have the confines and probability of a great DEAL for both countries,” Trump posted on social media about the South Korea talks.
Trump said he would negotiate with nations on issues beyond trade and tariffs, making for a “beautiful and efficient process,” and the White House said nearly 70 countries had reached out in the past week seeking to strike a deal.
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