Sen. Michael Bennet, D-Colo., asked Greer what “short-term pain” could look like in the aftermath of the Trump tariff policies.
“It’s hard to project what’s going to happen with prices,” Greer said, going on to say inflation went down during Trump’s first term when he implemented tariffs on China.
Greer said that there was “not really a one-to-one on tariffs and price effects,” adding that “so many things go into price.”
Economists and certain companies have said they expect rising prices because of the tariffs.
“I think the challenges, frankly, are going to be more for companies that are largely dependent on imports from China and Asia, where they have to adjust their supply chains in a quick set of time,” Greer added.
Greer said the Trump administration does not have a timeline on negotiations with other countries that want to pursue reciprocal trade with the United States, as “the outcome is more important than setting something artificially for us.”
“What I can say is I’m moving as quickly as possible, and a lot of these countries are moving very quickly, and we’re working on the weekends, we’re working at night, as folks want to engage on this,” Greer responded to a question from Sen. James Lankford, R-Okla.
“The trade deficit has been decades in the making, and it’s not going to be solved overnight,” he added.
Sen. Ron Wyden, D-Ore., the top Democrat on the Senate Finance Committee, said he is “concerned that there is no strategy at all,” while pressing Greer on the impact of China’s retaliatory tariffs on American consumers and small businesses during a hearing on the U.S. economy this morning.
“I don’t see any strategy at all, Wyden said. “And you really haven’t said much about what the strategy is this morning.”
Greer said “we will see where that goes” while speaking about U.S.-China trade relations amid Trump’s threats to impose an additional 50% tariff on the country’s import, which could bring total tariffs on Chinese goods to 104%.
“We’re trying to remedy a situation persisted for many years, and it would be wonderful if the Chinese agreed with that and wanted to persist in work with us on that, but that’s not where they are, and the president has recognized this, and he wants to focus on other partners,” Greer said.
Wyden called the move “classic Donald Trump,” saying the president is “really good at talking about problems,” but “pretty damn bad at fixing them.”
“There’s going to be a whole lot of collateral damage in the process if you all continue with these trade policies and services and in other areas,” Wyden said.
The Department of Homeland Security has renewed its push for employees to leave.
Agency employees last night received an emailed memo from DHS Secretary Kristi Noem, titled “Reshaping of the DHS Workforce” and viewed by NBC News. It offers DHS employees several ways to choose to leave their jobs, including taking a buyout of up to $25,000 or early retirement. The due date for the program is the end of day on Monday, April 14.
DHS laid off more than 400 people in February, mostly at the Federal Emergency Management Agency (FEMA) and the Cybersecurity and Infrastructure Security Agency (CISA).
Sen. Mike Crapo, R-Idaho, asked Greer whether the objective of Trump’s tariff policies was to “engage in market access negotiations” with other countries.
Greer said the administration has told countries approaching the U.S. in order to negotiate that “if you have a better idea to achieve reciprocity and to get our trade deficit down, we want to talk to you.”
“We want to negotiate with you,” he said.
In the days after the Trump administration rolled out tariffs, administration officials have fluctuated on whether the tariffs were permanent or a negotiation tactic.
Sen. Ron Wyden, D-Ore., said in his opening remarks at the Senate Finance Committee hearing that the U.S. economy is in “purgatory” because of Trump’s tariff policies.
Wyden said he wanted the hearing to focus on what the plan was for the future of Trump’s tariff policies and the strategy behind the economic plan.
“This is a big unforced error that requires a big response,” Wyden said.
In his remarks, Wyden proposed advancing a bipartisan resolution to reject the latest round of tariffs. Earlier this month, a handful of Senate Republicans joined Democrats in voting to revoke tariffs on goods from Canada, though the measure is unlikely to go anywhere in the House.
Senate Finance Committee Chairman Mike Crapo, R-Idaho, said in his opening statement at a hearing on Trump’s trade agenda this morning that the U.S. needs to “think strategically about tariff policy, including how to minimize unnecessary costs on American families.”
“While tariffs inherently may be seen at odds with free trade, we must also acknowledge that many of our trading partners deploy barriers that have gone unchallenged for too long,” Crapo said, defending Trump’s new tariffs.
Crapo, who spent much of his opening statement criticizing former President Joe Biden and his administration’s policy on trade, said “free trade, by definition, must be reciprocal.”
“We do not have it if others can impose barriers on us unchallenged,” he said. “Our failure to enforce our rights over the last four years lost a lot of ground for us. This cannot continue, because what I am certain about is that American goods and services are innovative, high quality and globally competitive.”
European Commission President Ursula von der Leyen told Chinese Premier Li Qiang today that China has a “critical” role to play in addressing possible trade diversion caused by Trump’s sweeping tariffs.
In a phone call with Li, China’s No. 2 official, von der Leyen stressed that Europe and China have a responsibility to support a “free” and “fair” global trading system, her office said in a statement.
She called for a “negotiated resolution” to the challenges Trump’s new tariffs pose to the global economy, according to the statement.
The two leaders discussed setting up a mechanism for tracking possible trade diversion, it said, amid E.U. fears that cheap Chinese exports will be sent to Europe instead of the U.S.
Trump will meet this afternoon with a key group of House Republicans who are skeptical of the Senate-approved budget resolution to advance his agenda, according to a White House official.
A source familiar with the matter confirmed that members of the far-right House Freedom Caucus are among those who have been invited to the White House. Another source said Republicans in high-tax blue states, who want to lift the cap on the state and local tax deduction, were also invited.
The pressure campaign comes as Speaker Mike Johnson, R-La., is facing a growing chorus of opposition from hard-liners and fiscal hawks to the Senate-passed budget blueprint, which calls for different levels of spending cuts than a version the House adopted earlier this year. Adopting a budget resolution is the first step required to unlock Trump’s domestic policy agenda on a party-line vote.
House GOP leaders are hoping to put the budget plan on the floor Wednesday, but aren’t close to having the votes yet. Johnson pitched the House Freedom Caucus on the blueprint last night, and leadership is hoping Trump’s direct involvement will help further melt the opposition.
Trump is also headlining the National Republican Congressional Committee’s annual spring dinner tonight, a major fundraiser that a number of members are expected to attend.
Punchbowl News was the first to report the White House meeting.
Senior Defense Department officials are considering a proposal to withdraw as many as 10,000 troops from Eastern Europe, sparking concern on both continents that it would embolden Russian President Vladimir Putin, according to six U.S. and European officials who have been briefed on the matter.
The units under consideration are part of the 20,000 personnel the Biden administration deployed in 2022 to strengthen the defenses of countries bordering Ukraine after the Russian invasion. The numbers are still being discussed, but the proposal could involve removing up to half of the forces sent by Biden.
Trump suggested in a post on Truth Social this morning that he might make a deal with South Korea on tariffs after he had a “great call” with the country’s acting president.
“We talked about their tremendous and unsustainable Surplus, Tariffs, Shipbuilding, large scale purchase of U.S. LNG, their joint venture in an Alaska Pipeline, and payment for the big time Military Protection we provide to South Korea,” Trump said.
Trump said that South Korea began making military payments during his first term.
“Their top TEAM is on a plane heading to the U.S., and things are looking good,” Trump wrote. “We are likewise dealing with many other countries, all of whom want to make a deal with the United States. Like with South Korea, we are bringing up other subjects that are not covered by Trade and Tariffs, and getting them negotiated also. ‘ONE STOP SHOPPING’ is a beautiful and efficient process!!!”
He added, “China also wants to make a deal, badly, but they don’t know how to get it started. We are waiting for their call. It will happen! GOD BLESS THE USA.”
The U.S. has planned to impose a 25% tariff on its Asian ally tomorrow. It’s unclear if the administration will hold off based on Trump’s comments.
The FBI has issued a call for agents to voluntarily serve as bodyguards for Deputy Director Dan Bongino, a break from past practice in which the bureau’s No. 2 officials did not have security details, two current and two former FBI officials familiar with the matter told NBC News.
Bongino, a former Secret Service agent and New York police officer who became a wealthy pro-Trump podcaster, harshly criticized the bureau for years before President Donald Trump chose him to be deputy director.
The Chinese Commerce Ministry said China is ready to “fight to the end” if the U.S. imposes further tariffs as it plans to enact its own retaliatory tariffs. NBC News’ Janis Mackey Frayer explains the items made in China that could see the highest price hikes including retail, footwear and toys.
Sen. Rand Paul, R-Ky., slammed Trump’s tariff policies in a CNBC interview, saying he “can’t support a fallacy that is going to make us lose our wealth.”
“I have a retirement account, too,” Paul continued. “I want my retirement account to stay there, and I think tariffs is going to decimate it.”
Paul has been a frequent critic of Trump’s tariffs, while also emphasizing that he still supports most of Trump’s policies. Earlier this month, Paul was one of four GOP senators who joined Democrats to vote to revoke Trump’s Canada tariffs, though the measure is unlikely to go anywhere in the House.
South Korea’s top trade official will visit Washington today and tomorrow as the key U.S. ally seeks a reduction in tariffs.
The country will “actively” negotiate with U.S. officials, including Trump’s trade chief Jamieson Greer, to minimize the impact of Trump’s 25% duty on South Korean goods, head of trade negotiations Jung In-kyo said before flying to the U.S.
Seoul has reviewed various measures to lower its trade surplus with the U.S., Jung said, adding, “It’s difficult to reduce exports, so we need to increase imports, don’t we?”
Jung said it’s good news for South Korea that Trump said countries other than China may be able to reduce or defer tariffs through negotiations.
He said the math behind the 25% U.S. tariff on South Korean goods was “problematic,” as Seoul’s effective rate toward the U.S. is in the 10% range, far below the 50% rate Trump claimed at his White House event announcing tariffs last week.
China criticized Vice President JD Vance after he said the U.S. borrows and buys from “Chinese peasants.”
“It is surprising and sad to hear the vice president say such ignorant and impolite words,” Chinese Foreign Ministry spokesperson Lin Jian said today at a regular briefing in Beijing.
Vance, author of the 2016 memoir “Hillbilly Elegy,” made the remarks while defending Trump’s new 34% tariff on Chinese goods in a Fox News interview last week, saying: “We borrow money from Chinese peasants to buy the things those Chinese peasants manufacture.”
Trump insists he’s not considering hitting the pause button on the next round of escalatory tariffs after markets yesterday suffered their worst day since the start of the Covid pandemic. The president said he’s unfazed by the short-term financial pain. “I don’t mind going through it because I see a beautiful picture at the end,” he said. NBC’s Peter Alexander reports for “TODAY.”
The Trump administration is considering launching drone strikes on drug cartels in Mexico as part of an ambitious effort to combat criminal gangs trafficking narcotics across the southern border, according to six current and former U.S. military, law enforcement and intelligence officials with knowledge of the matter.
Discussions among White House, Defense Department and intelligence officials, which are still at an early stage, have included possible drone strikes against cartel figures and their logistical networks in Mexico with the cooperation of Mexico’s government, the sources said.
The Trump administration is considering launching drone strikes on drug cartels in Mexico as part of an ambitious effort to combat criminal gangs trafficking narcotics across the southern border, according to six current and former U.S. military, law enforcement and intelligence officials with knowledge of the matter.
Discussions among White House, Defense Department and intelligence officials, which are still at an early stage, have included possible drone strikes against cartel figures and their logistical networks in Mexico with the cooperation of Mexico’s government, the sources said.
Trump will sign an executive order this afternoon on “unleashing American energy,” according to a White House release on his schedule, which did not provide further details.
Later, Trump will deliver remarks at a dinner hosted by the National Republican Congressional Committee, a Hill committee that works to elect GOP lawmakers in the House.
Trump will also make a public appearance this morning during a commemorative tree planting event at the White House.
The Supreme Court has ruled 5-4 in Trump’s favor to allow him to use the Alien Enemies Act, a sweeping wartime law, to deport alleged gang members as long as those individuals are given due process.
EMILY’s List, an organization that backs Democratic women who support abortion rights, endorsed eight candidates today in competitive Virginia legislative districts as Democrats seek to expand their majority in November.
The group previously endorsed former Rep. Abigail Spanberger, D-Va., as she campaigns to flip the governor’s mansion back into the Democratic column.
“To protect working families in Virginia from the chaos working at the federal level, we don’t just have to take back the governor’s office. We need to make sure that progressive policies are created in our state legislatures,” Emily Parés, the group’s interim vice president of state and local campaigns, told NBC News.
The candidates getting endorsements today include Elizabeth Guzmán, who is running in House District 22; Lily Franklin, in House District 41; May Nivar, in House District 57; Jessica Anderson, in House District 71; Leslie Mehta, in House District 73; Lindsey Dougherty, in House District 75; Kimberly Pope Adams, in House District 82; and Kacey Carnegie, in House District 89.
Most of the districts are based in suburban areas, with five of them covering the suburbs around Richmond. All eight seats are held by Republicans, but Parés pointed to several reasons why she’s feeling confident, including that several of the districts were won by then-Vice President Kamala Harris in November.
“Many of these districts were won by Harris and are some of the swingiest, most competitive seats in the chamber,” she said. “We’ve been working with these candidates for months at this point as they build really strong campaigns that are resonating with voters.”
Parés also pointed to a key victory for Democrats earlier this month in Wisconsin, where the liberal, Democratic-backed candidate in the state’s Supreme Court race beat a conservative, Republican-backed candidate who was boosted by millions of dollars from tech mogul Elon Musk.
In that race, several left-leaning groups campaigned on the issue of abortion and reproductive rights to boost the eventual winner. Dane County Circuit Judge Susan Crawford.
“As you saw in the Wisconsin state Supreme Court race just recently and then victories, you know, across the country last cycle, abortion continues to be a winning issue that motivates voters,” Parés said. ”Especially as the Trump administration, you know, kind of, continues to follow through with their, their threats and challenges to reproductive rights … voters are going to fight for that this November.”
The EMILY’s List endorsements come one day after another national Democratic group, the Democratic Legislative Campaign Committee, announced a seven-figure investment in Virginia’s downballot races.
Rep. Suzan DelBene, D-Wash., chair of the Democratic Congressional Campaign Committee, said her party is “on offense” on the “Trump-Musk agenda” in targeting dozens of GOP congressional districts in next year’s mid-term elections.
“And Republicans are running scared— for good reason,” DelBene said this morning on “Way too Early.”
Americans “are seeing prices go up, programs that they depend on being attacked, like Social Security and Medicaid, folks who serve our communities losing their jobs,” DelBene said.
It’s a preview of the message she hopes will be salient in the districts where Democrats plan to mount challenges.
“It’s kitchen table issues: economy, cost of housing, of food, of child care, of health care,” she said.
DelBene, who also ran the Democratic campaign effort in 2024, said she hopes to take advantage of House GOP incumbents’ running for higher office, such as Andy Barr in Kentucky, who is considering a run for Senate, or John James in Michigan, who is running for governor.
“That’s an opportunity for us,” DelBene said, referring to James. She added, “Open seats can be easier” to flip.
“We also have a lot of seats that were really, really close last time,” she said. “We have seats that have been swinging — they went for Biden in 2020 and Trump in 2024, there are nine of those seats. So those are all opportunities for us,” she said.
“And we saw what happened in Florida too, where Republicans won by huge margins,” she said. “Those were slashed in half in just a few months. It kind of tells you the tenor of where the American people are at and their frustration and anger with Republicans, understandably.”
DelBene noted that the party in the White House tends to fare poorly in midterm election years.
“History is on our side here,” she said. “We only need three seats to take back the majority, and they have a microscopic majority right now.”
U.S. Trade Representative Jamieson Greer will appear before the Senate Finance Committee this morning, where lawmakers are expected to grill him about about Trump’s reciprocal tariffs.
The full committee hearing on Trump’s trade policy agenda kicks off at 10 a.m.
Greer is set to use his opening remarks to zero in on Trump’s tariff policies and the administration’s push for reciprocal trade, according to a copy of his prepared remarks. He will also call for moving towards an economy “based on producing real goods and services.”
“This adjustment may be challenging at times,” Greer’s prepared remarks sayd. “It is a moment of drastic, overdue change, but I am confident the American people will rise to the occasion as they have done before.”
Greer leads the office that negotiates trade agreements with other countries and resolves trade disputes. His testimony comes as the administration has sought to calm the jitters of supporters over the tariffs’ economic impact.
When asked yesterday whether tariffs were permanent or up for negotiation, Trump said, “they can both be true.”
House Democrats are setting their sights on some districts Trump won handily in November as they lay out their top targets as they look to take back the House next year.
The Democratic Congressional Campaign Committee announced today that it is targeting 35 Republican-held House seats, noting that recent gains in special elections have suggested a midterm election environment that will not be kind to Republicans. The committee is also launching a program to raise money for its eventual nominees.
Democrats need a net gain of three seats next year to take control of the House (they hold 213 seats, with two vacancies in solidly Democratic districts). The president’s party also typically loses seats in midterm elections, shedding an average of 20 House seats in presidents’ second terms, according to data from the University of California-Santa Barbara’s American Presidency Project.
But just three Republican incumbents — Nebraska’s Don Bacon, New York’s Mike Lawler and Pennsylvania’s Brian Fitzpatrick — represent districts former Vice President Kamala Harris carried in last year’s presidential election.
Global stocks today clawed back a fraction of their enormous recent losses, with the turmoil from the Trump administration’s announcement of sweeping global tariffs last week calming in financial markets if not in the political arena.
Most major indexes in Europe and Asia climbed and premarket trading in the U.S. appeared to be cautiously positive, even as America’s war with China deepened, with Beijing announcing it will “fight to the end” after Trump threatened to an additional 50% tariff on Chinese goods.
