The seriousness of Trump’s tariff plans is confirmed by his personnel decisions and… the dollar’s reaction
27 November 2024 17:35
US President-elect Donald Trump has selected trade lawyer Jamison Greer as his new US Trade Representative. This was reported by Reuters, according to "Komersant Ukrainian".
According to the publication, the president-elect will entrust this key veteran of Trump’s first trade war against China with the implementation of a large-scale tariff program that promises to upend global trade.
“Jamieson will focus the Office of the U.S. Trade Representative on curbing the nation’s massive trade deficit, protecting American manufacturing, agriculture and services, and opening export markets everywhere,” Trump said.
Who is Jamison Greer?
greer, 44, served as chief of staff to former Trump Trade Representative Robert Lighthizer, the architect of Trump’s initial tariffs on about $370 billion worth of Chinese imports and the renegotiation of the North American Free Trade Agreement with Canada and Mexico.
In this position, Greer, along with Lighthizer, participated in all negotiations with Chinese officials, which resulted in the signing of a trade agreement with Beijing in January 2020. Under this agreement, China pledged to buy about $200 billion worth of American goods over two years. This goal was never achieved, partly due to the COVID-19 pandemic.
What US trading partners need to prepare for
Donald Trump announced this Monday that he will immediately impose a 25% tariff on all products from Mexico and Canada when he takes office in January. The US president-elect also plans to impose an additional 10% duty on goods from China.
Global markets are already reacting to these statements. Global stock exchanges were reportedly suspended and the dollar fell on Wednesday. All this is due to concerns about the potential impact of the new US tariff policy announced by Donald Trump.
