Trump Administration Cuts Trade Deficit 24 Percent With New Tariffs and Reciprocal Trade Deals

United States Trade Representative Jamieson Greer testified before the House Ways and Means Committee this week on the Trump administrations 2026 trade policy agenda. According to Greers opening statement on the United States Trade Representative website, President Trump inherited the largest trade deficit in history at 1.2 trillion dollars annually, but tariffs and new deals have reversed trends. The goods trade deficit dropped 24 percent from April 2025 through February 2026 compared to the prior year, with the deficit against China falling to 200 billion dollars in 2025, the lowest since 2004. Law360 reports Greer prioritized eliminating digital service taxes imposed by countries worldwide and strengthening United States Mexico Canada Agreement rules. He indicated draft Section 301 actions target these digital taxes, per MLex coverage. On North American trade, Global News states Greer criticized Canada for doubling down on globalization, clashing with United States goals. He pushed for better rules of origin to block Chinese subsidized goods and teased enforcement against provincial alcohol bans. Congresswoman Claudia Tenney pressed him on Canadas trade barriers hurting New York producers, according to her press release. Brownfield Ag News notes Greer seeks United States Mexico Canada Agreement updates to aid American agriculture, with Mexico already agreeing on rules of origin and economic security ahead of the July review. He highlighted frustrations over Canadas dairy supply management and fruit vegetable import limits. The administration has signed nine reciprocal trade agreements and nine frameworks in one year, boosting exports to record 302 billion dollars in January 2026 and 315 billion dollars in February, Greer stated. Democrats grilled him on tariffs, with Representative Don Beyer questioning their popularity amid job losses, per YouTube hearing clips from Forbes Breaking News. Representative Linda Sanchez asked about a European steel donation for the White House, and Representative Jimmy Panetta challenged Section 122 tariff use. Ways and Means Chairman Jason Smith opened by stressing America must tear down barriers hurting workers. Thank you for tuning in, listeners. Please subscribe for more updates. This has been a Quiet Please production, for more check out Quiet Please dot ai. For more http://www.quietplease.ai Get the best deals https://amzn.to/3ODvOta This content was created in partnership and with the help of Artificial Intelligence AI.