U.S. Trade Representative Jamieson Greer declared the president is standing strong on tariffs despite recession and retirement concerns during a Senate Finance Committee hearing on Tuesday.
The hearing was prompted by the $5.4 trillion stock market crash, triggered by President Donald Trump's tariffs announcement last week. In a clip circulating on X, New Hampshire Senator Margaret Hassan asked Greer whether the Trump administration would reverse course if tariffs led to 10% inflation.
"Senator, the president is fixed in his purpose," Greer, an Air Force veteran and attorney, said during the hearing, according to a clip circulating on X. "This trade deficit and offshoring and loss of manufacturing jobs is something that has persisted for too long, and it's dangerous," Greer added.
HASSAN: Would the administration reverse course if the president's tariffs led to 10% inflation?
— Aaron Rupar (@atrupar) April 8, 2025
GREER: The president is fixed in his purpose
HASSAN: Let's be clear that Trump administration is here today to say that even if inflation hits 10 percent they're still gonna go… pic.twitter.com/e45FSaWzcX
When asked whether the administration would reverse course if the stock market crashed 50%, which occurred during the Great Recession, and caused retirement savings to take a drastic hit, Greer went on the defense.
"Senator, your hypotheticals are not consistent with the history we have seen with the use of tariffs," Greer started before he was interrupted.
"My hypotheticals are based on the fact that a lot of Americans are looking at their 401ks today and wondering how much of a lifestyle change they are going to have to have, or whether they're gonna be able to retire when they plan to because of the recklessness and haphazard nature of the Trump administration's imposition of tariffs," Hassan asserted.
"Nothing was thought out about this. This has been a haphazard, incompetent effort, and it's showing," she added.
Wall Street suffered its fourth consecutive losing session on Tuesday, with the Dow Jones Industrial Average and tech-heavy Nasdaq Composite losing more than 300 points apiece.
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