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Indebta > News > Donald Trump taps Jamieson Greer for US trade representative
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Donald Trump taps Jamieson Greer for US trade representative

News Room
Last updated: 2024/11/26 at 11:02 PM
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Donald Trump has tapped Jamieson Greer to be the US trade representative and Kevin Hassett as director of the National Economic Council, rounding out his economic team after launching the first big tariff threats of his presidential transition.

Greer, a lawyer at King & Spalding in Washington, is a protégé of Robert Lighthizer, USTR during Trump’s first term, who championed the use of tariffs and led trade disputes with China and Europe as well as the renegotiation of the Nafta trade deal with Canada and Mexico. At the time, Greer served as Lighthizer’s chief of staff.

Greer’s nomination came after Trump on Monday threatened to impose 25 per cent tariffs on imports from Canada and Mexico and 10 per cent tariffs on China on his first day in office, firing the first salvo since the election against the top US trade partners.

On the campaign trail, Trump promised blanket levies of 20 per cent on all US imports, as well as tariffs of 60 per cent on those from China, suggesting his second-term policies could be even more protectionist and disruptive to the global economy and markets.

“[Greer’s] efforts under the former USTR, Bob Lighthizer, a spectacular leader and person, helped spur the return of Manufacturing jobs to America, and reverse decades of disastrous Trade policies,” Trump said in a statement announcing the appointment.

While USTR is responsible for trade negotiations, it is unclear whether Greer will wield the same influence that Lighthizer did in the role.

Last week, Trump selected Howard Lutnick, the co-chair of his transition team, to be his nominee for commerce secretary. He said Lutnick would “lead our tariff and trade agenda, with additional direct responsibility for the Office of the [USTR]”, which would leave Greer with a diminished role.

Trump also chose Scott Bessent as his nominee for Treasury secretary last week. The hedge fund manager will also have a critical role in shaping international economic policy.

Like Bessent, Hassett is seen as a pragmatic pick who will be well-received by Washington and Wall Street. Hassett previously served as chair of the Council of Economic Advisors during Trump’s first presidential term. At the NEC, he will be tasked with co-ordinating economic policy.

In his new role, Hassett, a longtime supporter of the president-elect, will also will be instrumental in guiding Trump on extending tax cuts that are set to expire. Trump has also made deregulation a pillar of his economic agenda, especially as it relates to the oil industry.

Hassett — who previously worked with former president George W Bush and Republican presidential candidates John McCain and Mitt Romney — has long been a supporter of Trump’s tariff proposals as well as his plans to cut taxes.

In an interview with the Financial Times in October, Hassett talked about tariffs as a negotiating tool and backed a strong dollar, saying it “has been an important part of the global economy for a long time”.

He also said an independent Federal Reserve was a “positive”, suggesting he could be at odds with Trump’s interest in having a greater say over monetary policy decisions. Hassett is also seen as a potential contender to replace Jay Powell when the Fed chair’s term expires in May 2026.

“I think that it’s important for fiscal policymakers to understand that if the Fed’s job is price stability, then the Fed will have to respond to fiscal policy,” Hassett said.

Read the full article here

News Room November 26, 2024 November 26, 2024
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