Washington: US Trade Representative Jamieson Greer said Tuesday that adjustments could be made to steel and aluminum tariffs for compliance purposes, but these tariffs would remain in effect. ‘You may want to sometimes adjust the way some of the tariffs are applied for compliance purposes,’ Greer said on CNBC television.
According to Anadolu Agency, Greer mentioned that the tariffs have been “very successful” in stimulating the home industry and will be maintained. He noted that some companies have had to hire extra personnel for compliance, which is not the intended effect of the tariffs. “We’re not trying to have people do so much bean counting they’re not running their company correctly,” he added.
Greer further argued that the US-imposed tariffs have led to significant trade benefits, including the removal of customs duties and trade barriers by other countries, increased exports, and decreased inflation. He stated that these tariffs have been “incredibly successful.”
The tariffs, originally imposed by US President Donald Trump, included a 50% levy on foreign steel and aluminum to tackle Chinese overcapacity. Additionally, the administration increased tariffs on derivative items containing these metals, complicating the determination of content proportions in imported goods.
Source: Anadolu Agency
