Investing.com -- U.S. Trade Representative Jamieson Greer is set to inform the Senate Finance Committee this Tuesday that he has been approached by nearly 50 countries to discuss the new comprehensive tariffs introduced by President Donald Trump.

Countries including Argentina, Vietnam, and Israel have indicated their intention to lower their tariffs and non-tariff barriers, according to a written statement from Greer that was seen prior to the meeting. Greer welcomed these potential changes, stating that they represent positive steps in addressing the longstanding trade deficit of the U.S., which has persisted for over 30 years.

However, he also noted that resolving this trade imbalance won’t happen instantly, and the current discussions and proposed tariff reductions are just initial steps in the right direction.

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