Editor's Pick

Kevin Hassett doubles down on Trump tariffs, says dozens of countries are asking to negotiate

White House Economic Council Director Kevin Hassett doubled down on the effectiveness of President Donald Trump’s tariffs on Sunday, saying dozens of countries are now seeking to open negotiations and U.S. manufacturing is booming.

Hassett made the claim during an appearance on ABC News’ ‘This Week’ with host George Stephanopoulos. He said that over 50 countries have already said they want to negotiate new trade agreements with Trump’s administration since the tariffs hit last week, though he acknowledged there may be short-term pain for consumers.

He pointed to the decrease in prices that has existed since China entered the World Trade Organization in 2000, arguing that the loss of jobs outweighs the low prices.

‘If cheap goods were the answer, if cheap goods were going to make Americans’ real wages better off, then real incomes would have gone up over that time. Instead, they went down because wages went down more than prices went down. So we got the cheap goods at the grocery store, but then we had fewer jobs,’ he said.

Hassett added that he has received ‘anecdotal word’ that some U.S. auto plants are adding second shifts to their work schedules in response to the tariffs.

Stephanopoulos then pressed Hassett to explain why Russia wasn’t targeted with any additional tariffs.

‘There’s obviously an ongoing negotiation with Russia and Ukraine, and I think the president made the decision not to conflate the two issues. It doesn’t mean that Russia in the fullness of time, is going to be treated wildly different than every other country,’ Hassett responded.

‘But Russia’s one of the only countries, one of few countries that is not subject to these new tariffs, aren’t they?’ Stephanopoulos pressed.

‘They’re in the middle of a negotiation, George, aren’t they?’ Hassett countered. ‘Would you literally advise that you go in and put a whole bunch of new things on the table in the middle of a negotiation that affects so many American and Ukrainian and Russian lives?’

‘Negotiators do that all the time,’ Stephanopoulos argued.

‘Russia is in the midst of negotiations over peace that affects really thousands and thousands of lives of people and that’s what President Trump’s focused on right now,’ Hassett said.

This post appeared first on FOX NEWS

You May Also Like

Latest News

Not since LeBron James was drafted 20 years ago has there been this much excitement about an NBA prospect – as shown by the...

Latest News

Here’s a look at the life of Imelda Marcos, the former first lady of the Philippines. Wife of the late Ferdinand Marcos, who ruled...

Editor's Pick

IoT Analytics published the Q1/2023 update of their “Global Cellular IoT Module and Chipset Market Tracker & Forecast” – an interactive dashboard and structured...

Economy

This year marks the 78th anniversary of the atomic bombings of Hiroshima and Nagasaki. On August 6th, 1945 “Fat Man” instantly killed 80,000 of...

Disclaimer: Boostyoursavings.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2024 Boostyoursavings.com