President Trump’s supreme official defended the movements of the aggressive administration on Tuesday, under the pretext before the Senate Committee that the American economy is facing a “moment of late change” after decades of support by the financial sector and government spending.
The observations made by Jamieson Greer, the commercial representative of the United States, were at a time when the Trump administration faced a reaction from commercial partners, companies and investors regarding Mr. Trump’s approach. The President’s moves this month to impose a 10 percent global tariff and the sharp “mutual” definitions of dozens of countries have already sparked a trade war with China and caused other countries to put in place of revenge plans. Economists are now likely to stagnate.
Mr. Trump rejected these concerns and said that he would not back down from his commercial agenda, which he says is necessary for industrialization and industrial production to the United States. He and his economic advisers claimed that the two countries aim to conclude new trade agreements with the United States and reduce definitions and other commercial barriers.
In a post on social media on Tuesday, Mr. Trump described an invitation with the Acting President in South Korea, Han DAC SO, about trade and definitions and that South Korean officials were heading to the United States for talks. He also expressed optimism that the trade war with China can be avoided.
“China also wants to make a deal badly, but they do not know how to start,” said Trump. “We are waiting for their calls. It will happen!”
In his prepared statements, Mr. Jarir said that nearly 50 countries have contacted him to discuss how to “achieve reciprocity for trade.”
“Our large and continuous trade deficit was more than 30 years, and it will not be solved overnight, but all this is in the right direction,” says Mr. Jarir.
Democrats have seized market jackets as evidence that Mr. Trump is offered the economy.
“The American economy has moved from the world’s envy to laughter, in a lesser time than it took to end the madness of March,” said Senator Ron Wadeen of Oregon, the Senior Democrats of the Senate Finance Committee. “Through all of this, Donald Trump and his advisers did not provide any understandable explanation at all because of the supposed to be accomplished by raising taxes on the American people.”
Republican lawmakers have been ready for definitions, as they were striving to balance their support for Mr. Trump with the increasing concern of their voters.
“We need to think strategically about the customs tariff policy, including how to reduce unnecessary costs for American families,” said Senator Mike Crabo, Republican President of the Finance Committee. “I also realize that although it is easy to see the costs arising from the customs tariff, it is extremely difficult to assess the cost of access to markets.”
American stocks were recovered on Tuesday after several days of losses and increased fluctuations of trading as investors invest with the possibility of disturbances in the supply, inflation and global stagnation chain, which is stimulated by Mr. Trump’s tariff.
Treasury Secretary Scott Beesen, which Wall Street had seen a potential voice of definitions, tried to calm the markets on Tuesday by saying that more than 70 countries had continued to negotiate customs tariff cuts.
“I think you will see some very large countries that have a large commercial deficit that is progressing very quickly,” Mr. Pesin told CNBC. “If they come to the table with solid proposals, I think we can end up with some good deals.”
However, the Treasury Secretary attacked China because of the revenge of the United States with its own definitions and warned that America has more influence in a commercial war with the second largest economy in the world.
“What do we lose because of a tariff raising the Chinese on us?” Mr. Pesin said. “We export behind what they export to us, so that this is a losing hand for them.”
During the commercial battle with China in Mr. Trump’s first state, the United States ended up spending About 23 billion dollars After China imposed high reprisals on soybeans, corn, wheat and other American imports that begin in 2018.
