U.S. Trade Rep. Jamieson Greer on failed U.S.-Canada trade talks: 'They wanted more'

Summary

U.S. Trade Representative Jamieson Greer explains that U.S.-Canada trade talks collapsed because Canada sought more tariff relief, including on heavy-duty trucks, after the U.S. offered cuts on steel, aluminum, autos, and softwood lumber. He argues the trade dispute is economically small and that markets are right to shrug it off. Greer also denies reports of friction with Commerce Secretary Howard Lutnick and criticizes Canadian content levies on American streamers.

• USTR Greer says the U.S. offered tariff reductions on steel, aluminum, autos, and softwood lumber.
• Canada wanted expanded relief including heavy-duty trucks, leading talks to break down.
• Greer says affected imports are only about 5% of goods from Canada and 0.06% of U.S. consumption.
• He argues U.S. fundamentals are solid with moderating inflation and rising real manufacturing wages.
• He denies a Politico report of friction with Commerce Secretary Howard Lutnick.
• He says the U.S. wants Canadian oil, minerals, and natural resources but rejects non-oil import imbalances.
• He calls Canadian and Australian streaming content levies a discriminatory tax on American companies.
• He says Iran policy will use U.S. market power to shape global events.