At Hearing, Warren Grills Greer on Potential Job Losses From Trump Tariffs
Warren: “What you're telling us is the fact that hundreds of thousands, even millions of people, could lose their jobs and that prices could go up will not be a factor for you or for Donald Trump for rolling those tariffs back.”
Washington, D.C. – At a hearing of the Senate Finance Committee, U.S. Senator Elizabeth Warren (D-Mass.), Ranking Member of the Senate Committee on Banking, Housing, and Urban Affairs, demanded answers from Ambassador Jamieson Greer, United States Trade Representative, on President Trump’s reckless tariffs that have the potential to lead the nation into an economic crisis.
After President Trump’s announcement on his “reciprocal” tariffs on almost every country in the world, the stock market experienced its biggest drop since the first days of the pandemic. Senator Warren sounded the alarm about a likely recession, citing Federal Reserve Chair Jerome Powell, who warned that the tariffs could lead to both “higher prices” and “higher unemployment.”
Greer is responsible for developing and promoting the U.S. trade agenda and leading trade negotiations on behalf of the U.S. When asked if the Trump administration would reverse course on their tariffs if they cost workers their jobs and raised prices, Ambassador Greer refused to provide a straight answer.
In fact, Greer insisted that Donald Trump’s on-again, off-again tariffs on China would bring “lower unemployment, lower inflation,” putting him at odds with economists of all political leanings.
“What you're telling us is the fact that hundreds of thousands, even millions of people, could lose their jobs and that prices could go up will not be a factor for you or for Donald Trump for rolling those tariffs back,” said the senator.
Today, Senator Warren joined Ranking Member Ron Wyden in introducing legislation to repeal Donald Trump’s global tariffs. The resolution would terminate the emergency that Trump declared to slap tariffs of up to 49% on products Americans buy from other countries.
“Look, if Republicans are serious about protecting American jobs and fighting inflation, then they can join Democrats right now to pass a resolution to fix Trump's restless tariffs,” said the senator. “This economy is teetering on the edge of collapse. We have the power right here in the Senate and over in the House of Representatives to take this authority away from Donald Trump.”
Transcript: Hearing to examine the President's 2025 trade policy agenda.
Senate Finance Committee
April 8, 2025
Senator Elizabeth Warren: Thank you, Mr. Chairman. Donald Trump is single-handedly driving this economy off a cliff. With no evidence to back him up, he’s claimed emergency authorities to slap new tariffs on nearly every product we import, from nearly every country.
But Congress has the power to reverse those tariffs—and we should do so immediately.
Tariffs can be a tool to help build things in America. But Trump has slapped tariffs on, then off, on then off again with no rhyme or reason—and the uncertainty about the long-term rules makes companies far less likely to invest in manufacturing or jobs here in the United States.
If Congress doesn’t stand up to Trump, economists predict a recession before the end of the year, and Fed Chair Jerome Powell says we’re in a real danger of “both higher unemployment and higher inflation.” Translation: Trump’s tariffs will push millions of workers out of jobs and push prices up at the same time.
So, Ambassador Greer, we've heard a lot of conflicting statements about whether these tariffs are here to stay, how many more rounds of on/off we're going to do. So, let me ask the question from a different perspective.
Ambassador Greer, we lost 700,000 jobs each month in the last recession. If 700,000 Americans lose their jobs, will the Trump administration suspend these tariffs?
Ambassador Jamieson Greer: Senator, I think the economists who are making these projections, who often are in favor of fully unfettered free trade, are the same ones, you said in the first Trump term, that put tariffs— I just don’t think it’s going to happen, Senator.
Senator Warren: Mr. Greer, let me just stop you there. I'm not asking about projections. I'm asking, if the numbers show that 700,000 people have lost their jobs because of these new tariffs that Trump has slapped on, will the administration reverse course and lift those tariffs?
Ambassador Greer: Senator, that's not going to happen. We've lost 5 million manufacturing jobs over the years, which is the number I'm most worried about, and we have to get those jobs back.
Senator Warren: So, I take that as a no. Let me try another one. Moody says that if the Trump tariffs remain in place, we will definitely plunge into a recession, which will ultimately cost three and a half million Americans their jobs.
So, Ambassador Greer, if Trump's tariffs push three and a half million people out of work, will the Trump administration reverse course and lift those tariffs?
Ambassador Greer: Senator, the Wall Street analysts are wrong. They never want to have any kind of change to the status quo–
Senator Warren: I’m not asking if they’re right or wrong–
Ambassador Greer: But that's who you're quoting to me, Senator.
Senator Warren: I’m giving you a number. If the number is three and a half million, if it never comes to pass, you don't have to worry about your answer, but if three and a half million people lose their jobs because of these tariffs, is the Trump administration prepared to lift them?
Ambassador Greer: Right now, this minute, we're working on negotiations with countries who believe they can achieve reciprocity with us and get their trade deficit down, and that's the emergency we're focused on. There’s not going to be a situation where, years from now, we've lost millions of jobs.
Senator Warren: Let me try one more time: if Trump tariffs push workers out of their jobs and raise prices as Fed Chair Powell has predicted, will you reverse course then?
Ambassador Greer: I think also with respect to Chairman Powell, who I don't know personally, but I know the President makes decisions on trade, and he rarely takes advice from Chairman Powell on this. We found in Trump One that you could put tariffs on China and you could make it work and have lower income, sorry, lower unemployment, lower inflation, and increase real median household income over time as we reshore and that's what we have to do, Senator.
Senator Warren: What I'm hearing you say is that no one can hear a rhyme or reason to why the tariffs are off again, on again, off again, on again. But what you're telling us is the fact that hundreds of thousands, even millions of people, could lose their jobs and that prices could go up will not be a factor for you or for Donald Trump for rolling those tariffs back. Look, if Republicans are serious about protecting American jobs and fighting inflation, then they can join Democrats right now to pass a resolution to fix Trump's restless tariffs. This economy is teetering on the edge of collapse. We have the power right here in the Senate and over in the House of Representatives to take this authority away from Donald Trump. We can get this voted on. Senator Wyden and I have already, are about to, introduce the bill to do that, and if Republicans are serious about not playing the red light green light with tariffs but instead about protecting our economy, our families, our jobs, and keeping prices low, then Republicans should join us on that. Thank you, Mr. Chairman.
###
Next Article Previous Article