00:00Chairman. Senator Daines. Mr. Chairman, thank you. Ambassador Greer, welcome to Capitol Hill.
00:09I share the President's determination to end these unfair trade practices, whether they are
00:15tariffs or non-tariff barriers. I hope we can avoid an all-out trade war. A trade war will mean
00:24higher prices for the American consumer because I think we could do a little thought exercise at
00:29the moment who pays these high tariffs. In the short, medium term, it will be the consumer.
00:36It will be the consumer. And so I'm worried about the inflationary effect. I'm worried if there is a
00:42trade war that we're going to have markets shutting down for American farmers, ranchers and manufacturers.
00:47I'll give you an example of that here in a moment. But I'm encouraged because the President's
00:55announcement has gotten the attention of a lot of countries. I was encouraged to see Kevin Hassett
01:01this morning talking about negotiations occurring, looking at President Trump's latest posts on
01:07True Social, the fact that we've got Koreans now coming to the United States literally dispatched
01:14to engage with us to lower these barriers, tariff and non-tariff. The Japanese and some 70 countries
01:21now that want to come and work and address the issues of the barriers for American companies,
01:29American producers doing businesses in their countries with 95% of the world's consumers
01:33outside the United States. Critically important. So this is very encouraging. I think that's in part
01:40why we're seeing the rebound today in the equity markets, because there's hope that these tariffs are
01:46a means and not solely an end. And if that's the case, I think we're on a really good path with this
01:53kind of tough, tough position we're taking to actually solve some of these problems in barriers
01:59in trade that have been lingering for decades. And President Trump is taking bold leadership
02:04to address it. And I'm hoping for a good outcome.
02:09My hope this hope is this is a sign of things to come, that these countries will offer major
02:17concessions and make historic trade deals with President Trump. Ambassador Greer, I encourage
02:25the administration, encourage you to use this opportunity to secure better terms for with our
02:32partners, with our allies, to protect and grow American jobs, to grow access for American farmers,
02:40our ranchers, our manufacturers, and American families. Three weeks ago, I was in Hanoi and met
02:49with General Party Secretary Do Lam, the highest ranking official in Vietnam. And then I went to Beijing
02:55and met with high-ranking Chinese officials, including the Premier Li Cheng. I carried President Trump's
03:03America First message directly to these leaders. I spoke with Premier Li Cheng and demanded that China
03:12stop the flow of the fentanyl precursors into Mexico, United States, and Canada. I raised concerns about
03:21developments related to the expiration of registrations for beef processing plants here in the United
03:27States and some non-science-based barriers which has impacted Montana and U.S. beef exports. I want to
03:37remind you that in 2017, I went to China. I carried some steaks from a Montana rancher, Fred Wacker of
03:47Mile City, Montana. We met with the Premier. In fact, I had one of your predecessors, Rob Portman,
03:52then the Senator from Ohio and a former USTR with me. I had Senator Barrasso with me, Senator Kennedy with me.
03:59And as a result of that meeting, 30 days later, they lifted a 14-year ban on U.S. beef imports into
04:07China. Let me talk about what that has meant so far. This is the largest beef export market in the world
04:13is now China. For U.S. producers of beef, in 2021, we shipped $1.6 billion of beef. Keep in mind,
04:22the 2017 number was $31 million. It was $2.1 billion in 22, $1.6 billion in 23, $1.6 billion in 24.
04:35But here's the concern. That's been shut off now in the last three weeks. March exports of beef to
04:42China, U.S. beef declined 92 percent. So the valve is shut right now for U.S. beef producers.
04:51My question is, what can we do to hold China's commitment to U.S. beef and other egg imports,
05:01which are so critical right now for U.S. producers?
05:03Thank you, Senator. And you've always been a leader on this, and I appreciate that.
05:09You know, China, of course, needs to take down their barriers. It's been a persistent challenge
05:14with them, and they like to use economic coercion, and they have their own method of doing things.
05:19But my hope would be is that they turn back on this course of action. I think President Trump is
05:24focused on making sure we have the right program in place, that we're dealing with partners who are
05:29going to be respectful and achieve reciprocity with us. And I think a lot of this is going to
05:34be up to the Chinese on how forward-leaning they want to be on having fair trade with us. I'm very
05:39sensitive to this issue in particular, and I want to make sure we open up beef markets other places
05:42too, so we don't have to be dependent on just one market. Yeah. Well, Ambassador Greer, I'm encouraged
05:49by the negotiations that are going on as we speak with Japan, with Korea, with some 70 countries who want
05:55to now reduce their tariff and non-tariff barriers. This could be absolutely a monumental moment
06:01in trade for the United States, and Godspeed.
06:07Thank you, my colleague. Next is Senator Young.
06:14Good to have you here, Ambassador Greer, and let me just begin by commending you. You've been very
06:21accessible as we've tried to get some clarity on exactly trade policy and where we're headed and
06:29how we expect counterparties to move and all the rest. You return my phone call immediately and
06:35your team's been in touch with mine. And so just that speaks very well of you and the Trump.
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