POLITICO Playbook Daily Briefing
April 8, 2025: Trump's trade chief heads to Capitol Hill
Apr 8, 2025
Joining the discussion is Daniel Desrochers, POLITICO's trade reporter, known for his sharp insights into global trade dynamics. He breaks down the expected testimony of USTR Jamieson Greer before the Senate Finance Committee regarding President Trump's global tariff hike. Tensions with China escalate as Trump demands a withdrawal of tariffs or threatens a hefty increase. Additionally, Desrochers covers how Canada and Mexico react to these aggressive policies while exploring the internal conflicts shaping U.S. trade strategies.
11:30
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Quick takeaways
- Trade Representative Jamieson Greer's Senate testimony will reveal internal divisions within U.S. trade policy amidst ongoing tariff uncertainty.
- Escalating tensions with China reflect the global ripple effects of Trump's trade policies, influencing diverse national responses to tariffs.
Deep dives
Market Instability and Tariffs
Recent fluctuations in Wall Street indicate heightened instability, largely driven by ongoing tariffs related to President Trump's trade war. The mixed messages from Trump regarding the permanency of these tariffs are creating uncertainty among businesses and investors. Treasury Secretary Scott Besant's involvement in brokering a trade pact with Japan underscores a push for negotiation, while the European Union is contemplating removing tariffs on industrial goods contingent on reciprocal actions from the U.S. This environment of unpredictability is further complicated by escalating tensions with China, where Trump has issued an ultimatum to withdraw reciprocal tariffs or face an increase in U.S. tariffs.
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