A Conversation With Jamieson Greer

Why It Matters

The administration’s blend of tariffs, AI‑enhanced manufacturing, and supportive fiscal policies could reshape U.S. supply chains, offering firms new opportunities and risks as the trade deficit narrows and domestic production gains momentum.

Key Takeaways

• Trade deficit fell to $60‑80B monthly, signaling early policy impact.
• Manufacturing wages rose $1,000, outpacing inflation and previous administration.
• Factory visits reveal AI-driven productivity gains and new capital investments.
• Tariffs are one tool among energy, tax, and regulatory reforms.
• USTR plans public comment process for upcoming 301 investigations and exclusions.

Summary

In a Council on Foreign Relations session, former U.S. Trade Representative Jameson Greer outlined the Biden administration’s trade agenda, emphasizing the interplay of tariffs, domestic manufacturing outreach, and broader pro‑production policies. He highlighted that the monthly goods trade deficit has contracted to roughly $60‑$80 billion, while manufacturing line workers have seen real wage gains of over $1,000 compared with the previous administration. Greer pointed to tangible productivity improvements observed during recent factory tours, noting AI‑driven automation and a surge in capital spending—exemplified by Micron’s $2 billion expansion. He stressed that tariffs are merely one lever, complemented by energy‑resource exploitation, tax incentives, and streamlined permitting to revive U.S. industrial capacity. A memorable remark captured his optimism: “American workers are making more and selling more and earning more than ever.” He also described the ongoing 301 investigations, explaining that any new measures will be published in the Federal Register for public comment before implementation. The discussion signals that while early metrics are promising, the administration acknowledges the need for a longer horizon to reshape manufacturing’s share of GDP. Companies should monitor forthcoming tariff adjustments, exclusion requests, and the broader policy package, as they will shape supply‑chain decisions and investment strategies for the next several years.

Original Description

U.S. Trade Representative Ambassador Jamieson Greer discusses recent developments in the administration’s global economic trade strategy.

Please note that this meeting was originally scheduled for Tuesday, April 28, 2026.

The C. Peter McColough Series on International Economics brings the world’s foremost economic policymakers and scholars to address members on current topics in international economics. This meeting series is presented by the Greenberg Center for Geoeconomics.

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