Transcript: U.S. Trade Representative Jamieson Greer on

The next is the transcript of an interview with U.S. Commerce Consultant Jamieson Greer that airs on “Face the Nation with Margaret Brennan” on Aug. 3, 2025. This interview was taped on Aug. 1, 2025.

MARGARET BRENNAN: And we’re joined now by United States Commerce Consultant, Jamieson Greer. Ambassador, good to have you ever right here. 

JAMIESON GREER: Nice to be right here. Thanks. 

MARGARET BRENNAN: So the President signed this government order on Thursday, raises tariff charges on about 70 international locations. Ought to we anticipate these to be negotiated down within the coming days? 

JAMIESON GREER: I do not, I do not assume they are going to be within the coming days. I believe a variety of these, nicely I do know a variety of these, are set charges pursuant to offers. A few of these offers are introduced,  some will not be, others rely upon the extent of the commerce deficit or surplus we could have with the nation. So, so these, these tariff charges are just about set. I anticipate I do have my telephone blowing up. There are commerce ministers who, who need to discuss extra and see how they will work another way with the USA, however I believe that we’ve got, we’re seeing really the contours of the President’s tariff plan proper now with these charges.

MARGARET BRENNAN: I used to be studying some interviews you had given, and also you stated sooner or later the President’s view is perhaps a tariff is best than a deal. Are you saying there are international locations that simply, they haven’t any shot of avoiding a tariff?

JAMIESON GREER: Nicely, I might say that, in reality, most international locations on the planet, they simply have a tariff assigned to them, proper? Whether or not it is– 

MARGARET BRENNAN: It will be the ten p.c or 15 p.c. 

JAMIESON GREER: 10 or 15 or the upper stage tariff. As a result of, once more, when the President is taking a look at this, he seems at potential offers, and we deliver him potential concessions from international locations and the issues they may need to do. And he compares that to the potential tariff that could be utilized to attempt to get that deficit down. After which speaking to his advisors, he makes a name on this. And you realize, typically a rustic will come again and make further concessions that, that make it extra applicable. He is making an attempt to get on the deficit. He is making an attempt to reshore manufacturing. And so these are the elements he is taking a look at when he is taking a look at when he is figuring out whether or not he is simply going to have a tariff or he’ll take a deal. 

MARGARET BRENNAN: Making an attempt to reshore manufacturing, deliver manufacturing jobs again to America. However we simply noticed on this unemployment information that whereas the extent is fairly low general, it is fairly regular, good. Manufacturing specifically, we noticed it contract for the fifth straight month in July, manufacturing unit employment dropped to lowest ranges in 5 years. What does that information point out to you concerning the affect of your tariffs?

JAMIESON GREER: Yeah, I noticed that and my very own view is that I believe a variety of firms had been ready to see if the tax invoice was going to return via with the expensing for capital items and issues like that. And so I believe now you realize a variety of that information comes pre “One Huge Stunning Invoice”. Now that we’ve got “One Huge Stunning Invoice”, and we’ve got a greater sense of the place the taxes are going, I believe we will see a a lot, we will see extra funding, all of the, all of the commitments on funding we have seen international locations making, that is going to return via. And such as you stated, it is a comparatively small quantity. So I do not, I do not learn tariff coverage into that quantity. I believe that’s form of pre-bill coverage.

MARGARET BRENNAN: So that you consider the executives are making strategic selections with hiring, however the President simply introduced that the pinnacle of Labor Statistics is being fired due to the weak jobs report, claiming the information was faked.

JAMIESON GREER: Nicely, I believe you realize, and I noticed what the president did, and he additionally talked concerning the, simply the file from BLS, you realize, final yr– 

MARGARET BRENNAN: Labor Statistics Bureau.

JAMIESON GREER: That is proper, yeah, precisely. You recognize, even final yr throughout the marketing campaign, there have been huge swings within the jobs numbers and so it sounds to me just like the President has actual issues. You recognize, not simply primarily based on immediately’s however the whole lot we noticed final yr. You need to have the ability to have considerably dependable numbers. There are all the time revisions, however typically you see these revisions go in actually excessive methods. And it is, you realize, the President is the President. He can select who works within the government department.

MARGARET BRENNAN: However you had been simply saying you were not actually doubting the information.

JAMIESON GREER: No, I wasn’t– You requested me what I assumed concerning the information–

MARGARET BRENNAN:

Proper.

JAMIESON GREER:–And was it mirrored within the tariff coverage? The reply isn’t any. I imply, my view is, to the extent that there is some form of, you realize, details about manufacturing jobs, you realize, I believe that we will see a giant improve in manufacturing jobs now that we’ve got the “one huge, lovely invoice” handed, now that we’ve got the expensing moving into. And I believe that, you realize, our producers know that they’ve a transparent and sure path ahead on that now.

MARGARET BRENNAN: Are you assured, although – as a result of you must deal in authorized phrases, in particulars, with info and information when you’re negotiating a authorized settlement – do you belief that should you deliver exhausting information to the president, he takes your counsel, even when it is an inconvenient reality?

JAMIESON GREER: All the time, sure. I imply, I’ve spent the- I spend many hours with the president nearly day-after-day, and that is what we’re speaking about is information. We’re wanting – and I am on the commerce facet, after all – and we’re taking a look at import figures, export figures, funding ranges, et cetera. And that is how we’re making this choice. So I am very snug with that.

MARGARET BRENNAN: So you’ve got seen that Apple estimates, for the total yr, tariffs are going to price them greater than a billion {dollars}. For the automakers – GM, Stellantis, Ford – all of them got here out and stated they will take a success from this.

AMBASSADOR GREER: Nicely, in order that’s precisely the problem, proper? We’ve, over many years, we have had these giant producers, superior manufacturing, which have gone abroad. They’ve gone to different international locations. They’ve taken benefit of unfair buying and selling practices, and the truth that the US has had low tariffs whereas different international locations have not, and so they’ve taken benefit of that. That is what companies do. We’re all capitalists. And so if now they need to pay a tariff or construct right here, the President is creating incentives to deliver them again right here. That is why GM has introduced investments right here in the USA, and that is why we’ve got all these firms and international locations saying funding within the US. As a result of the tariffs create the motivation to take action.

MARGARET BRENNAN: However reductions in income come at a price, proper? And as CEOs are making selections, how lengthy do you anticipate this ache to final for company America?

AMBASSADOR GREER: Nicely, you realize, once more, once we look at- you realize, once we have a look at the numbers and the information, we’re seeing predictions of extra funding right here. That is what we would like. The President is not doing this a lot for the businesses. He is doing it for American employees who’ve seen their jobs offshored to Mexico, to Vietnam, to China. So once we hear firms having to make exhausting selections about provide chain modifications. We’ve to try this. I imply the established order, the place we hold making issues abroad, as a result of we are able to do it a bit bit cheaper within the brief run. That’s not preferable to having that funding and employment right here in the USA. 

MARGARET BRENNAN: However we’ve not seen that reshoring occur. 

AMBASSADOR GREER: Nicely, we have- we’ve got introduced AstraZeneca introduced they will have a $50 billion funding in prescription drugs. GM has introduced $5 billion. Hyundai Metal has stated they will do a $21 billion funding in Louisiana. So this is- that is truly occurring. These are issues from the corporate saying it proper, and so they need to say it. They usually have, you realize, earnings studies, and so they have and- they’ve filings. They cannot simply make these things up. That is actual funding that we’re seeing.

MARGARET BRENNAN: Let me ask you about Canada, which is our second largest- largest buying and selling accomplice. The president elevated tariffs to 35%. It applies, although, to only about 10% of what Canada sells right here. Why trouble to do that now in the course of negotiations?

AMBASSADOR GREER: So I might say, to start with, you realize, Canada is topic to 50% tariffs on metal, aluminum. 25% tariffs on autos, and once more, the 35% tariff on- on items that do not observe the principles of USMCA. And, you realize, early on, the president posed a 25% tariff on Canada, and that was actually about fentanyl and border points, proper? It is- it’s- it is a separate regime from the reciprocal tariff. And what did Canada do in response? You recognize, they talked about serving to on the border. And I am not, you realize, I am not the drug czar or something. However what I do know, because the commerce man, is that Canada retaliated. The one different nation on the planet who retaliated on tariffs was the Chinese language. And so if the president’s going to take an motion and the Canadians retaliate, the USA wants to take care of the integrity of our motion, the effectiveness. So we’ve got to go up too. 

MARGARET BRENNAN: So, you are speaking concerning the issues that the previous Prime Minister Trudeau put in place, not the  present Prime Minister– 

AMBASSADOR GREER: — And are nonetheless in place–   

MARGARET BRENNAN: — Which are nonetheless in place. However the present prime minister has held off, largely, on retaliation right here. That is the man you are negotiating with and his crew. So what is the technique right here? And are not you frightened that this may damage the broader free commerce deal should you really do need to renegotiate it subsequent yr.

AMBASSADOR GREER: Nicely- nicely, the President’s view with with each nation, whether or not it is Canada or Mexico, and whatever the form of commerce settlement we’ve got in place, is that the web results of the buying and selling system, whether or not it is our WTO agreements or our present commerce agreements, the web consequence has been that a variety of the manufacturing has gone abroad, and when that is the web consequence, you’ll be able to’t proceed with that system. So you realize, I am not involved that it will complicate issues with Canada. Our view is the President is making an attempt to repair the phrases of commerce with Canada, and if there is a technique to a deal, we’ll discover it. And if it isn’t, we’ll have the tariff ranges that we’ve got. 

MARGARET BRENNAN : So I hear you drawing distinctions while you say I am the commerce man, I am not the drug czar. 

AMBASSADOR GREER: Appropriate. 

MARGARET BRENNAN: I am the commerce man. I am not dealing with these different issues. However the President is form of mixing all these items collectively, as a result of he cited fentanyl as soon as once more when it got here to tariffs-  to the coverage with Canada. He additionally stated on social media, Canada’s choice to again statehood for Palestine goes to make it exhausting for us to make a commerce deal. How does which have something to do with monetary and commerce agreements?

AMBASSADOR GREER: So, so- so, to start with, the president United States has his international affairs energy the place he can- he can handle relations below the Structure with international international locations. Second of all, you realize, Congress delegated to the president the flexibility to take financial motion in response to nationwide emergencies within the Worldwide Financial Emergency Powers Act. And for instance, the Treasury Division, they’ve various sanctions the place they will truly minimize off a rustic’s commerce with the USA, prohibit items, minimize them off from our monetary system for geopolitical causes. So the truth that they will do that- nearly actually the President can do one thing that is not as expansive and just- and simply put a price on these items, which is a- which is a tariff. So if you–

MARGARET BRENNAN: –However can and will are various things, proper? And- and I am asking this–

JAMIESON GREER: –However to- to go- but- however hear, if you are going to sanction someone and primarily prohibit commerce, you nearly actually can do one thing that is softer, which is to permit the commerce and simply put a tariff on it. 

MARGARET BRENNAN: So let me ask you about Brazil, as a result of the U.S. has a commerce surplus with Brazil. Which means, you realize, we promote them greater than we purchase from them. So it does not appear to be constant right here, when you could have the President put 50% tariffs on Brazil, one of many highest of any international locations. And on the similar time, the President is mentioning issues that don’t have anything to do with commerce when he is justifying them. He despatched a letter to the present authorities complaining concerning the prosecution of his ally, Bolsonaro, who is- who allegedly staged a coup when he misplaced the final election. The President referred to as it a witch hunt. This appears politically motivated and never about commerce.

AMBASSADOR GREER: Nicely, two issues. To begin with, there is a 10% tariff on Brazil as a result of we’ve got a surplus with them. That is the reciprocal tariff. After which there is a 40% tariff that the President has chosen to do below the Worldwide Emergency Financial Powers Act, like we might do any sanction the place we see geopolitical points. The President has seen in Brazil, like he is seen in different international locations, a misuse of legislation, a misuse of democracy, what one would possibly name lawfare. It’s regular to make use of these instruments for geopolitical points. I imply, sanctions, we have been utilizing them for years with every kind of nations, together with international locations we like–

MARGARET BRENNAN: You view tariffs and sanctions as the identical?

AMBASSADOR GREER: They’re simply totally different in diploma. I imply, tariffs are literally lighter than a sanction- a sanction, you are slicing off a rustic out of your monetary system. You are prohibiting commerce with them. A tariff, you are permitting commerce. You are simply placing a price on it. It is a- it is a lesser

MARGARET BRENNAN: –However now

AMBASSADOR GREER: step than sanctions–

MARGARET BRENNAN: –You- you could have moved distant from from coping with the deficit. Now– 

AMBASSADOR GREER: –Nicely the deficit has a ten% tariff–

MARGARET BRENNAN: –you are speaking about politically motivated commerce actions right here. I imply, the president despatched a letter to President Lula, saying that tariffs are due partially to Brazil’s insidious assaults on free elections. He additionally, on the similar time, sanctioned the Supreme Courtroom justice overseeing Bolsonaro’s trial. Why are you making an attempt to affect a legal trial of an ally of President Trump? 

AMBASSADOR GREER: So, so, so the president of United States, traditionally, whether or not it is a Democrat or Republican, they’ve used IEEPA to impose sanctions for every kind of geopolitical causes in every kind of nations. Typically it is countrywide, typically it is particular to sure, you realize, people and infrequently international leaders and international officers. So this isn’t, this isn’t manner outdoors the market. If something, the President might have gone farther in the kind of sanction that was used. As a substitute he simply used a tariff as a substitute of slicing them off from the monetary system altogether. 

MARGARET BRENNAN: So that you had been totally on board with it. It seems like.

AMBASSADOR GREER: With the president of the USA? My boss? After all I’m–

MARGARET BRENNAN: –However with intervening in legal trials–

AMBASSADOR GREER: –when the President–

MARGARET BRENNAN: — via commerce coverage.  

AMBASSADOR GREER: When the President sees lawfare happening, he’ll impose a sanction via IEEPA that is been delegated by Congress. That is his job because the president. He is elected to evaluate the Overseas Affairs state of affairs in the USA and take applicable motion. There’s simply no query that it is each from a authorized perspective, it is fully permissible. And from a coverage perspective, that is what he is elected to do. 

MARGARET BRENNAN: In terms of commerce, the large deal that’s pending out there may be how is the president going to cope with China? There’s an August 12 deadline, and if that deadline shouldn’t be met, you could have stated tariff ranges might snap again to above 80%. Is that deadline going to slip?

AMBASSADOR GREER: So that is what’s below dialogue proper now. I might say that our conversations with the Chinese language have been very constructive. We’ve discussions on the employees stage, at my stage, you realize, President Xi and President Trump have had conversations. 

MARGARET BRENNAN: They stated that it is sliding. The Chinese language stated it is sliding. 

AMBASSADOR GREER: That is one thing we’re working towards. That is what we talked about–

MARGARET BRENNAN: So you are not there but. 

AMBASSADOR GREER: And so, so that they need to try this. We’re engaged on some technical points, and we’re speaking to the president about it, you realize, I believe it is moving into a constructive route. You recognize, I am not going to get forward of the President, however, you realize, I do not assume anybody desires to see these tariffs snap again to 84%.

MARGARET BRENNAN: Did you get any commitments in these two days of talks in Stockholm?

AMBASSADOR GREER: So sure, we did. Sure, we talked about, and I will not go into element, as a result of they’re, you realize, confidential conversations between two, two governments, however they actually targeted on uncommon earth magnets and minerals. You’ve got most likely heard some about that, that China has put a world management on the world, and so for the USA, we’re targeted on ensuring that the move of magnets from from China to the USA and the- and the adjoining provide chain can move as freely because it did earlier than the management, and I would say we’re about midway there.

MARGARET BRENNAN: Ambassador Greer, thanks in your time immediately.

AMBASSADOR GREER: Thanks a lot.

MARGARET BRENNAN: And we’ll be proper again.