Council of Economic Advisers Chair Stephen Miran said Thursday that he would advise leaders around the world to “take a breath and not retaliate” when it comes to President Donald Trump’s tariffs. Instead, he told Newsmax that foreign leaders might be able to negotiate with the president to lower the tariffs the United States is imposing.
“The president’s been very clear that if other countries retaliate for our fair and reciprocal tariffs, then tariff rates will go up even higher,” Miran said on Newsmax’s “Wake Up America.” “Look, the president is famed for his negotiating skills. The president is famed for his ability to create deals where not only nobody else could, but nobody thought it was possible. And so, it is quite possible that, in the end, foreign leaders end up making offers to the president that he decides are good for America and good for Americans and then tariff rates get negotiated lower.”
On Wednesday, Trump declared a 10% baseline tax on imports from all countries and higher tariff rates on dozens of nations that have trade surpluses with the United States. According to a chart Trump held up while he was speaking at the White House, the U.S. is set to charge a 34% tax on imports from China, a 20% tax on imports from the European Union, 25% on South Korea, 24% on Japan, and 32% on Taiwan.
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