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On a brisk Tuesday morning, Capitol Hill resembled a split screen. One eye observed the fluctuating markets while the other focused on the Senate testimony of U.S. Trade Representative Jamieson Greer in the Dirksen Senate Office Building.
As Greer made his way to the hearing room, I asked, “Do you think your remarks will alter the markets in any way?” He replied with caution, stating, “I’m just going to respond to the senators. Be candid as I can be.” This exchange set the tone for a tense hearing that would unfold.
Public discourse has recently been dominated by discussions of tariffs, featuring Commerce Secretary Howard Lutnick, Treasury Secretary Scott Bessent, and White House advisor Peter Navarro. However, until that Tuesday, little had been said by Greer, the individual responsible for managing the administration’s trade policy.
During his testimony, Greer asserted, “The president’s strategy is already bearing fruit. Nearly 50 countries have approached me personally to discuss the president’s new policy and explore how to achieve reciprocity.” This claim was met with skepticism from Democrats.
Senator Catherine Cortez Masto of Nevada questioned Greer’s assertion, asking, “You’re telling us you have nearly 50 countries coming to you for negotiation, and you think you can make that happen overnight? You’re pretty superhuman if that’s the case.” The skepticism was palpable in the room, reflecting the complexity of international trade negotiations.
Greer sparred with Senator Maggie Hassan of New Hampshire, who highlighted the potential impact of tariffs on American households. “Even if inflation hits Americans’ pocketbooks at 10% because of these tariffs, will the Trump administration still charge ahead?” she queried.
Greer’s defense included a rebuttal: “Senator, your hypotheticals are not consistent with the history we have seen with tariffs.” Hassan, however, underscored that many Americans are currently evaluating their financial futures, emphasizing, “This has been a haphazard, incompetent effort. And it’s showing.”
Following the testimony, the stock markets rose unexpectedly at the opening bell, suggesting that Greer’s words either carried little weight or were yet to resonate with investors.
As lawmakers pondered their strategies, constituent concerns became more pronounced. Outside the chambers, Senator John Kennedy of Louisiana likened the tumultuous trade situation to a Southern saying, quipping, “God created the world. But everything else is made in China.” His attempt to use humor illustrated a serious point about the reliance on foreign manufacturing.
When I pressed Kennedy about the deeper issue of market uncertainty, he acknowledged, “There is always uncertainty, but this is a different type of uncertainty. Is it going to impact your capital markets? Yes, duh. It’s not fun and very, very painful. The outcome largely depends on what President Trump does next.” This statement pointedly highlighted the nexus between presidential action and market stability.
During the hearing, both Democrats and Republicans expressed frustration regarding the president’s unilateral imposition of tariffs. Questions arose regarding the lack of consultation with Congress, as Senator Maria Cantwell of Washington queried, “Where was the consultation with Congress? Where’s the homework?”
Senator Josh Hawley of Missouri defended the president’s actions, claiming Congress had given the president the authority to act decisively in matters concerning tariffs because of its own willingness to sidestep these complex issues.
The intricate dynamics of trade policy became particularly evident as trade agreements and congressional roles were debated. Greer highlighted that the U.S. is a signatory to over 14 trade pacts, mentioning the U.S.-Mexico-Canada Agreement (USMCA) as a prior example of Congress’s engagement.
Greer returned to Capitol Hill for further questioning. Representative Suzan DelBene of Washington pressed him on whether any trade deal would be presented to Congress for a vote. Greer cautiously responded, “We’ll do what the law requires. Some of it requires consultation, and some requires a vote. We’ll follow the law.” Yet, DelBene took issue with the president’s use of emergency powers in enacting tariffs, informing him that consultation with Congress was supposed to precede such actions.
During the hearing, tensions rose when President Trump suddenly announced a three-month pause on most tariffs via social media, prompting Representative Steven Horsford of Nevada to exclaim incredulously, “He announced it in a tweet? Who’s in charge?” Greer reaffirmed that the president was indeed in charge, leading to further questions about the administration’s coherence.
The questioning continued as I, along with other journalists, pursued Greer for clarity regarding the President’s abrupt policy change. Greer remained tight-lipped, reiterating, “I’ll just refer you to my testimony.” This lack of transparency left much to be desired, especially in light of growing bipartisan concerns about trade policies.
As the hearing progressed, Senator Thom Tillis of North Carolina posed a piercing question, asking Greer, “Whose throat do I get to choke if this proves to be wrong?” Greer answered carefully, suggesting that he was the appropriate point of contact for inquiries about the potential outcomes of these decisions.
As the testimony unfolded, the challenges facing the Trump administration related to trade and tariffs became starkly evident. With rising tensions and uncertainty in the markets, the long-term effects of these policies on American citizens and the broader economic landscape remain a critical area of concern.
The trade conflict’s implications are far-reaching, and how the administration navigates these challenges will be pivotal for both domestic and foreign economic relationships. As the situation develops, both elected officials and constituents will continue paying heightened attention to the evolving narrative surrounding U.S. trade policy.