Washington: Top officials of U.S. President Donald Trump's administration have defended "reciprocal" tariffs as a crucial tool to prevent trading partners from 'slow-walking' negotiations and imposing retaliatory duties, following a recent court ruling that deemed most of its global tariffs illegal.
According to Yonhap News Agency, Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, U.S. Trade Representative Jamieson Greer, and Secretary of State Marco Rubio submitted their statements to the U.S. Court of Appeals for the Federal Circuit, emphasizing the importance of these tariffs. The court, in a seven-to-four decision, ruled against the tariffs but allowed them to remain in effect until October 14, providing time for an appeal. President Trump criticized the ruling on social media, suggesting it could severely harm the United States if upheld.
Treasury Secretary Bessent highlighted the role of tariffs in pressuring other countries to negotiate and preventing them from distorting competition by imposing retaliatory tariffs. He stated that the credible threat of tariffs is essential for successful negotiations.
U.S. Trade Representative Greer noted progress in trade agreements with South Korea, the European Union, and Vietnam, attributing this success to the imposition of tariffs. He emphasized that these agreements aim to convert negotiations into legally binding commitments.
Commerce Secretary Lutnick warned that suspending tariffs could cause significant harm to U.S. interests, potentially leading to retaliation and undermining strategic negotiations. He stressed the importance of tariffs for national security and foreign policy.
Secretary of State Rubio expressed concerns over the potential impact on negotiations to end the war in Ukraine. He argued that tariffs on India, imposed due to its importation of Russian oil, are crucial for reducing demand for Russian oil and increasing leverage in peace negotiations.
In a recent trade deal with South Korea, the Trump administration agreed to reduce reciprocal tariffs from 25 percent to 15 percent in exchange for significant investment commitments from Seoul. President Trump has been using tariffs to increase federal revenue, attract foreign investments, and boost domestic manufacturing since declaring "Liberation Day" on April 2.