Part 10/12:
Current tariffs, such as a 35% duty on certain Canadian goods, are retained to control the trade deficit. However, Greer stressed the potential for cooperation, noting that mutual interests could lead to negotiated adjustments that benefit both nations without exacerbating trade tensions.
Corporate Impacts and Sectoral Tariffs
The conversation addressed concerns from American corporations worried about stacking tariffs—additional tariffs layered on existing ones—that could escalate costs and threaten growth. Greer clarified that the administration's tariffs are primarily designed to protect U.S. domestic producers and reduce deficits. Certain sectors like pharmaceuticals, automobiles, and steel are protected from stacking to prevent excessive burden.