Trump’s trade adviser: Trump’s tariff rate is “almost set”

U.S. Trade Representative Jamieson Greer said in an interview on Sunday that President Trump’s newly announced tariff rates were “almost set” and that the public should not expect them to drop in the near future.

“I don’t think they won’t be in the next few days,” Greer said in CBS News’ Face the Nation.

He said many tariff rates announced “according to transactions is set interest rates.”

“Some of these transactions have been announced, and some are dependent on the level of trade deficits or surplus we may encounter with the country,” Greer continued. “So these tariff rates are almost certain.”

Greer said he hopes his phone will “blast” through calls from international trade leaders who want to negotiate, but Greer suggests the latest tariff announcement could be where Trump lands on the issue.

He continued: “Some trade ministers want to talk more and see how they work with the United States in different ways, but I think we do see the outline of the president’s tariff plan right now,” he continued.

Trump signed an executive order that revised tariff rates in dozens of countries after two delays to plan to impose “reciprocal” tariffs on other countries. Tariff rates range from as much as 41% of Syria’s commodities to as much as 10% of commodities, with the benchmark being for all imported.

The executive order states that all import measures will face a 10% tariff. The order will come into effect on August 7.

Some countries have negotiated separate trade agreements to lock in tariff rates. For example, Indonesia and Thailand agreed to a 19% tariff, South Korea and Japan negotiated, including 15% tariffs, and Britain reached a deal with 10% tariffs. Some other countries that have not negotiated deals will face higher interest rates.

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