U.S. Trade Representative Greer: New tariffs will not have additional economic impact

On July 28, U.S. Trade Representative Greer said on Monday local time that the newly implemented 301 tariff measures would not have new impacts on the economy beyond the scope currently tolerated. Greer said the new tariffs imposed by U.S. President Trump on 60 trading partners may not have an economic impact, in part because the 10% or 12.5% tax rate is similar to previous global tariff actions. Greer said the new Section 301 tariffs target a smaller range of countries than the previously universally applicable 10% temporary tariff. But the agency said the new tariffs would still cover 99.4% of U.S. imports. (Jin Shi)