Trump Trade Rep. Fumbles Key Question on How Much Tariffs Will Cost
Jamieson Greer rushed to downplay how much tariffs will increase costs for American households.

The Trump administration is desperate to convince Americans that Donald Trump’s trade war won’t affect their wallets.
U.S. Trade Representative Jamieson Greer took to Fox News Friday, attempting to claim that the tariff plan had not destabilized the U.S. economy—but even on his favorite network, Trump’s policies faced heat.
“They say tariffs are gonna cost the American household $4,800,” prompted co-host Brian Kilmeade. “What do you say to those households?”
“First of all, I would say, with respect to those projections, a lot of those are Wall Street analysts who have a lot to lose themselves,” Greer said.
Except those numbers didn’t come from Wall Street analysts. Instead, the prediction came from a new report by the Yale Budget Lab, which assessed that Trump’s tariffs would raise the cost of goods by 2.9 percent, “the equivalent of a loss of purchasing power of $4,700 per household on average in 2024 dollars.”
And Greer’s point that it’d be men on Wall Street rejecting Trump’s roller-coaster ride of a market agenda rings especially hollow in light of the fact that the market has already seen its fair share of winners and losers. Some of the biggest winners, however, appear to be Trump’s billionaire buddies—notably his right-hand man Elon Musk, who has seen massive gains amid the up-and-down chaos.
Meanwhile, Trump’s weeklong global tariff volley and its ensuing volatility affected some 62 percent of Americans who participate in the market in some way or another, either by way of holding individual stocks or investing their money in retirement plans such as 401(k)s, IRAS, or pensions.
“I think the economic fundamentals of our country are still very, very good, and while there may be an adjustment, I think we’re going to be on a good path and I don’t think we’re going to see that level of increase in household expenses,” Greer added.
The administration’s slapdash approach to global trade was on full display Wednesday, when Greer was caught completely out of the loop while testifying before the House Ways and Means Committee. His lack of prior knowledge made it abundantly clear that communication has eroded so thoroughly through Trump’s Cabinet that even the U.S. trade representative had not been apprised of the president’s decision to temporarily reverse course on his tariff agenda.