Face the Nation with Margaret Brennan Amb. Jamieson Greer, Iranian Foreign Minister Abbas Araghchi, Christine Lagarde
Feb 22, 2026
Christine Lagarde, ECB president, on how trade uncertainty and central bank independence affect Europe. Abbas Araghchi, Iran’s foreign minister and former nuclear negotiator, on nuclear talks, verification, and regional tensions. Amb. Jamieson Greer, U.S. Trade Representative, on the legal basis for tariffs, recent policy shifts, and international trade reactions.
AI Snips
Chapters
Transcript
Episode notes
Court Limits Emergency Tariff Authority
- The Supreme Court struck down the president's use of the International Emergency Economic Powers Act for tariffs, limiting emergency flexibility.
- Jamieson Greer said existing tools like Section 301 and Section 122 remain, but Section 301 requires lengthy investigations and public hearings before imposing tariffs.
Temporary 15 Percent Global Tariff Plan
- The administration plans a temporary Section 122 global tariff up to 15 percent for about five months while pursuing longer processes elsewhere.
- Greer said the 15 percent reflects using the president's full legal authority to address urgent trade imbalances during that limited period.
Administration Says Foreign Firms Drive Lawsuits
- The administration frames litigation and opposition as driven by foreign companies and importers seeking to avoid tariffs.
- Greer argued foreign firms and coalitions have actively litigated and lobbied to remove the tariffs, indicating the policy is affecting foreign commercial interests.