Trade Representative Jamieson Greer also testified before the Senate Finance Committee, during which he justified President Donald Trump's sweeping tariffs.
The New York Stock Exchange opened hours after higher tariff rates on dozens of countries began and after China slapped 84% retaliatory tariffs on U.S. imports.
"The US escalation of tariffs on China is a mistake upon mistake, severely infringing upon China's legitimate rights and interests," Chinese officials said.
Dave Portnoy suggested that if President Donald Trump's tariff strategy does not see benefits, there could be major consequences for Republicans in 2026.