Trump will explain tariffs on electronics on Monday

Democratic Sen. Ron Wyden asked U.S. Trade Representative Jamieson Greer if President Donald Trump's steeper "reciprocal" tariffs are still set to go into effect early Wednesday.

"Senator, yes, they're scheduled to go into effect. We are having negotiations with all kinds of counties at this time," Greer responded, arguing the "national emergency" declared by Trump on trade deficits is "something we can't wait on anymore."

"So we will have the president's plan go into effect and we're coupling that with immediate negotiations with our partners," Greer said.

U.S. Trade Representative Jamieson Greer, in his opening statement before the Senate Finance Committee, defended Trump's tariff as the most significant trade policy change since allowing China to join the World Trade Organization.

"These measures are aimed squarely at achieving reciprocity and reducing our massive trade deficit to restore production in the United States," Greer said.

Greer said the trade deficit the U.S. faces is decades in the making and "will not be solved overnight but all of this in the right direction, particularly as we start to negotiate with these countries."

U.S. Trade Representative Jamieson Greer will be testifying on President Donald Trump's trade agenda before the Senate Finance Committee.

Greer will be tasked with defending Trump's tariff policy after days of market fallout, though stocks rose on Tuesday at opening after the Trump administration said it would negotiate with some nations. Greer's appearance before the panel comes one day before the administration's more targeted "reciprocal" tariffs go into effect against nations they've deemed the worst offenders in trade relations with the U.S.

ABC News Chief White House Correspondent Mary Bruce asked Treasury Secretary Scott Bessent on Tuesday morning how soon he thinks deals can be made with other nations as some tariff negotiations begin.

"Well, we have one of the Vietnamese officials coming in this week," Bessent responded. "The Japanese are very eager to get it over and I think you are going to see a couple of big trading partners do deals very quickly."

President Donald Trump on Monday, when asked if his tariffs were negotiable or permanent, told reporters "they can both be true."

"We're going to get fair deals and good deals with every country. And if we don't, we're going to have nothing to do with them. They're not going to be allowed to participate in the United States," Trump said.