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This method can be applied to any tariff that includes a capacity-based component.
But any tariff subsidies are, on the face of it, in contravention of World Trade Organisation rules.
This week, Mr Portman proposed that rich countries should cut any tariff over 60% by as much as 90%, and any under 20% by more than half.
This makes a mockery of everything Brexit stands for, of course, but if we changed any tariff, it would trigger an avalanche of trade disputes and lobbying operations.
The United States textile industry, which is largely concentrated in the Southeast, contends that any tariff cut would only do further damage to its dwindling prospects.
"We firmly believe that we have not violated any tariff provisions, rules or regulations," Mirant's vice president, Doug Miller, said in a statement.
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Meat and egg producers, corn growers and ethanol producers want to be excluded from any tariff-reducing deal, she said, because they think Americans have unfair advantages in those areas.
White House trade adviser Peter Navarro also offered no confirmation of any tariff-reduction agreement when he spoke to NPR, saying only that auto tariffs "certainly came up" in discussions.
(Under NAFTA, the figure was 62.5 per cent). The agreement also says that forty per cent of the parts for any tariff-free vehicle must originate in "high wage" factories, which pay their workers at least sixteen dollars an hour, on average.
The United States doesn't lower any tariffs.
By itself, the Geneva deal will not lower any tariffs or cut a single subsidy.
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