Trump trade chief pick says tariffs could reverse deficits but study needed – National [Video]

Jamieson Greer, President Donald Trump’s nominee for U.S. trade representative, said on Thursday that a universal tariff needs further study to gauge its impact on rising U.S. trade deficits, and put countries on notice they must lower import barriers to maintain access to the U.S. market.

Greer told a U.S. Senate confirmation hearing that Trump’s campaign promise of imposing at least a 10% universal tariff would be examined under an inauguration day trade memo, which ordered a report by April 1.

He said the study would also examine the impact of a growing U.S. goods trade deficit, which on Wednesday reached a record $1.2 trillion for all of 2024 as imports surged.

“Part of the question is how large of a trade deficit do we want, because the trade deficit represents, in large part, manufacturing jobs that have (gone) overseas,” Greer told the Senate Finance Committee.

“A universal tariff is something that should be studied and …