At a Senate Finance Committee hearing on Capitol Hill Tuesday morning, Senate Republicans pressed President Donald Trump's trade chief on when the tariffs would be lifted.
Jamieson Greer, the U.S. trade representative, was grilled by lawmakers, who urged the administration to begin negotiating deals that would end the trade war and stabilize the stock market.
At the hearing, Senate Finance Chair Mike Crapo, R-Idaho, asked Greer what the administration's objective was for the reciprocal tariffs that are going into effect Wednesday, Politico reported. Crapo said he hopes the goal is expanding trade and opening markets for American exporters, Politico reported.
Sen. James Lankford, R-Okla., said while he appreciates that the Trump administration is willing to attack the trade deficit issue, the people he talks to want a timeline for when the tariffs will be lifted.
"Most countries in the world are never going to buy as much as we are purchasing," Lankford said.
At the hearing, Greer said nearly 50 countries have approached him to discuss the new tariffs.
"Several of these countries, such as Argentina, Vietnam, and Israel, have suggested they will reduce their tariffs and non-tariff barriers," Greer said. "These obviously are welcome moves. Our large and persistent trade deficit has been over 30 years in the making, and it will not be resolved overnight, but all of this is in the right direction."
Information from Reuters was used in this report.