"These tariff rates are pretty much set," Jamieson Greer said in an interview Friday with "Face the Nation with Margaret Brennan​."

President Donald Trump announced on Thursday he’s extending the existing tariffs with Mexico, America’s largest trading partner, and he will pause higher tariffs that were set to go into effect Friday.

On Thursday, Donald Trump announced sweeping new tariffs against U.S. trading partners that will go into effect next week. The announcement came on the same day that an appeals court grappled with the question of whether Trump’s tariffs are even legal.

The tariffs are a substantial new source of revenue for the federal government. The budget may start to depend on it.