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Jamieson Greer: “GDP last year was at 3.2% higher than expected.”

Featuring: Jamieson Greer, U.S. Trade Representative | National

From Hamilton to Today: Trade and U.S. Economic Strategy with Ambassador Jamieson Greer

Published January 20, 2026 | Video Starts at 52:46

So in any given moment, you can kind of see different things. What I look at is wages are going up. GDP last year was at 3.2% higher than expected. It's projected for 5.4. And so this idea that if we had not had tariffs, we would have had, what, 7% growth? I mean, the counterfactual is kind of crazy. (52:46–52:50)

CLAIM

Asserts that the GDP growth last year was 3.2% higher than expected.

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Jamieson Greer

“New Jersey lost almost 47% of its manufacturing jobs after 1994.”
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“American per capita industrial output increased 525% from 1750 to 1860.”
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“By 1913, US per capita industrial output was the greatest in the world, 10% greater than that of the UK.”
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“American industrial production soared by over 1000% between 1860 and 1910.”
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“Lyndon Johnson imposed 25% tariffs on pickup trucks that we still have to this day.”
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“President Nixon put a 10% global tariff on the world in 1971.”
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“We reduced that trade deficit with China by about 25% last year.”
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“Over the past year, there have been 650,000 jobs created. And they're all in the private sector and they're all to Americans.”
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“We're now down to 2.7 [percent inflation].”
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“Real wages went down by $3,000 over [the Biden] administration. We're already up $1,300.”
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“We're pumping more oil than we ever have and the price of gas is down lower than it's been since 2019.”
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“Canada put a big tariff on Chinese electric vehicles of 100%.”
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“Canada's GDP is 75% dependent on the United States.”
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“President Trump has revived [the American pragmatic trade] approach with great effect.”
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“This approach...has resulted in increased GDP. It's reversed the trend in our trade deficit. It's boosted our wages, particularly for blue…”
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“Congress...has delegated a lot of that authority to the President.”
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“Paterson [New Jersey] then became one of the poorest cities in the United States.”
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“President Abraham Lincoln was a strong proponent of tariffs.”
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“Smoot Hawley ended up raising the average tariff rate from 40 to 46%.”
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“We protected our industry from foreign competition where that was necessary to unlock growth or to counteract Unfair production conditions…”
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“We leveraged the same playbook when we faced the challenge of a large trade deficit back in the 1980s due to non market policies in a…”
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“We bound our hands with NAFTA and the World Trade Organization in ways that made it impossible for the United States to effectively respond…”
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“The American system had become in some ways a global economic system, shaping the structures of economies far beyond our borders.”
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“The negotiators at Bretton woods and other economic conferences wrote new rules based on this and baked tariffs and trade measures into the…”
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“John Maynard Keynes, the British economist and the British representative to the Bretton woods conference, he had an idea for how this could…”
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“The GATT text is still the text underpinning the World Trade Organization agreements.”
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“Article 18 [of the GATT] explicitly states that it may be necessary...to take protective or other measures affecting imports.”
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“Article 12 [of the GATT] says that countries that have a persistent trade deficit can impose tariffs to protect the balance of payments.”
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“Article 6 [of the GATT]...says that countries can raise tariffs to respond to foreign subsidies or dumping.”
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“The international trade rules, as originally written after World War II, do not promote free trade as an end in itself.”
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“We allowed large non market economies into the world trading system, gave them the same tariff treatment as we did to market economies.”
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“The United States unilaterally disarmed. We slashed our tariff rates below the rates of nearly all our trading partners.”
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“It doesn't fix pharmaceutical price.”
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“You limit our agricultural imports, you limit our industrial imports, and you have a huge surplus with us.”
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“The plain language of the statute authorizes the president in an emergency situation to regulate imports.”
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“There's an emergency with our trade deficit and offshoring, courts typically will defer on the emergency.”
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“Manufacturing productivity has shot up over the past year.”
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“Energy, these are often state run utilities that are poorly run in many cases, so it goes up.”
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“The services numbers... are quite unreliable.”
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“We have a very good and reliable know sense of what the goods trade looks like.”
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