US Trade Advisor Confirms Trump's Tariff Rates Unlikely to Change
US Trade Representative Jamieson Greer has stated that the new tariff rates set by President Trump are 'pretty much set' and unlikely to change, despite ongoing negotiations with trade partners. The tariffs, ranging from 10 to 41 percent, will take effect on August 7.
TariffsTradeDonald TrumpUs EconomyInternational RelationsReal EstateAug 04, 2025
Trump, who has wielded tariffs as a tool of American economic might, has set tariff rates for dozens of economies, including the European Union, at between 10 and 41 percent, set to take effect on August 7. This new hard deadline for the duties is a shift from the previously announced August 1 date.
In a pre-taped interview broadcast Sunday on CBS's 'Face the Nation,' US Trade Representative Jamieson Greer said, 'The coming days are not likely to see changes in the tariff rates.' He added, 'A lot of these are set rates pursuant to deals. Some of these deals are announced, some are not, others depend on the level of the trade deficit or surplus we may have with the country.'
Greer emphasized that the tariff rates are 'pretty much set,' and acknowledged that some trade ministers 'want to talk more and see how they can work in a different way with the United States.' However, he stated, 'We're seeing truly the contours of the president's tariff plan right now with these rates.'
Last Thursday, the former real estate developer announced hiked tariff rates on dozens of US trade partners. These new rates will kick in on August 7 instead of August 1, which had been the initial deadline.
Among the countries facing steep new levies is Brazil. South America's largest economy is being hit with 50 percent tariffs on exports to the United States, although key products such as aircraft and orange juice are exempt. Trump has openly admitted he is punishing Brazil for prosecuting his political ally Jair Bolsonaro, the ex-president accused of plotting a coup in a bid to cling to power. The US president has described the case as a 'witch hunt.'
Greer said it was not unusual for Trump to use tariff tools for geopolitical purposes. 'The president has seen in Brazil, like he's seen in other countries, a misuse of law, a misuse of democracy,' Greer told CBS. 'It is normal to use these tools for geopolitical issues.'
White House economic advisor Kevin Hassett also concurred with Greer's assessment, stating that while talks are expected to continue over the next week with some US trade partners, the bulk of the rates 'are more or less locked in.' When asked by the host of NBC's Sunday talk show 'Meet the Press with Kristen Welker' if Trump could change tariff rates should financial markets react negatively, Hassett replied, 'I would rule it out, because these are the final deals.'
Legal challenges have been filed against some of Trump's tariffs, arguing he overstepped his authority. An appeals court panel on Thursday appeared skeptical of the government's arguments, though the case may ultimately be decided at the Supreme Court.
Frequently Asked Questions
What are the new tariff rates set by President Trump?
The new tariff rates set by President Trump range from 10 to 41 percent and are set to take effect on August 7, 2025. These rates apply to dozens of economies, including the European Union.
Why did the tariff deadline change from August 1 to August 7?
The tariff deadline was changed from August 1 to August 7 to give more time for negotiations and to align with other economic and political considerations.
What is the reason behind the 50 percent tariffs on Brazil?
The 50 percent tariffs on Brazil are a result of President Trump's decision to punish Brazil for prosecuting his political ally, Jair Bolsonaro, whom Trump describes as a victim of a 'witch hunt.'
Are there any legal challenges to these tariffs?
Yes, legal challenges have been filed against some of Trump's tariffs, arguing that he overstepped his authority. An appeals court panel has expressed skepticism about the government's arguments, and the case may be decided by the Supreme Court.
What is the stance of the White House on the possibility of changing these tariff rates?
White House economic advisor Kevin Hassett has stated that the tariff rates are 'more or less locked in' and that it is unlikely for President Trump to change them, even if financial markets react negatively.
Related News Articles
Elevating Civil Aviation: Mohol's Pioneering Role in Pune
Discover how Mohol is driving growth in Pune's civil aviation sector, with insights from Hemant Rasne, former Mayor and BJP leader.
Budget 2024: A Boost to Sustainable Growth in Real Estate
The Union Budget 2024 focuses on MSMEs, employment, skilling, youth, and middle-class, with indirect benefits to the real estate sector through job creation, infrastructure, and urban redevelopment.
Dubai Real Estate Market Sets AED 141.9 Billion Quarterly Sales Record in Q3 2024
Dubai’s real estate market achieved a significant milestone in Q3 2024, with total sales reaching AED 141.9 billion, marking a new all-time high for a single quarter. This achievement surpassed the previous record of AED 124.07 billion set in Q2 2024, ref
Elan Group Gets a Boost with Rs 1200 Crore from Kotak Real Estate Fund
The investment will serve as growth capital, helping Elan Group cement its position in the thriving real estate market of Gurugram. This strategic move is expected to accelerate the company's expansion and development projects in the region.
Delhi-NCR: The Metro City Witnessing a Massive Surge in Housing Prices
The report suggests that the price appreciation in Delhi-NCR is attributed to rising demand for high-end properties. Read more to know the details.
Radisson Resort Khopoli Launches as a Luxurious Getaway Near Mumbai and Pune
Radisson Hotel Group has expanded its footprint in Maharashtra with the opening of Radisson Resort Khopoli, offering a premium retreat for travelers near Mumbai and Pune.