April 9, 2025—The Senate Finance Committee held a hearing yesterday to discuss President Trump’s trade policy agenda for 2025. U.S. Trade Representative Jamieson Greer testified, stating that President Trump’s “Liberation Day” tariffs would have no exceptions, including for products that rely on inputs not produced in the U.S.
He expressed that the Administration is open to negotiations with more than 50 countries that have “alternative” plans to achieve trade reciprocity. Greer expressed that the U.S. is unlikely to strike a deal with China, at least any time soon.
This hearing comes less than a week after the “Liberation Day” tariff announcement.
Both parties expressed concerns about the short- and medium-term repercussions of the tariffs on importer-exporter companies, small businesses, and consumers.
The Democrats present were uniformly opposed to the new tariffs. Although most Republican Senators were supportive, some expressed skepticism.
Sen. Ron Johnson (R-WI) and Sen. Thom Tillis (R-NC) were critical of the lack of exemptions and the broad scope of the tariffs. Sen. Johnson, for example, emphasized that trade deficits are not always bad. Sen. Tillis said he did not understand the logic behind President Trump’s strategy.
As the Administration negotiates tariff rates, the trade community is called on to prepare for continued instability to U.S. tariffs and other countries’ retaliatory tariffs.
AAEI members can join the next Export and Global Trade Compliance Committee meeting to learn more about how they can prepare for changes to retaliatory tariffs.
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