U.S. Senate holds first trade hearing since Trump announced tariffs

Jamieson Greer, the US Trade Representative, will face the Senate Finance Committee on Tuesday. He is the official responsible for implementing the global tariffs announced by Trump last week. This is the first time a Trump administration official has testified before Congress since announcing the tariffs. Due to concerns from members of both the Republican and Democratic parties about the scope and duration of Trump's plan, it is expected that Greer will address concerns about the tariffs. An increasing number of Republican lawmakers in Congress are expressing concerns about the impact of tariffs on the US stock market and global trade with allied countries. At least seven Republican senators have signed a bill to prevent Trump from unilaterally imposing tariffs, however, Republican leadership has stated that the Senate will not consider this legislation after Trump issued a veto threat on Monday. (FXStreet)