Key insights
- The USTR plans to release more Section 301 trade actions soon, potentially involving tariffs. While the administration claims success in boosting exports and addressing trade deficits, proposed tariffs on Brazil are described as 'nuanced' with broad exclusions. This suggests ongoing trade policy developments that could introduce uncertainty and impact specific sectors, potentially creating headwinds for US equities due to trade friction and its effects on global supply chains and corporate costs.
WASHINGTON, June 2 (Reuters) - U.S. Trade Representative Jamieson Greer said on Tuesday that the Trump administration will release the results of several Section 301 trade investigations over the coming weeks, adding that proposed 25% tariffs are "quite nuanced" due to broad exclusions for beef, coffee, metals, energy and other goods.
Greer, speaking on CNBC’s Squawk Box program, said that the administration has had very good results from its tariff program in boosting U.S. exports. He said substantial tariffs were needed to correct persistent unfair trade practices around the world and a "giant" U.S. trade deficit.
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