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Director of the National Economic Council, Kevin Hassett, analyzes the impact of President Donald Trump’s tariffs on Kudlow.
Kevin Hassett, director of the National Economic Council, has indicated that conversations with “other countries” will continue on mutual tariffs and tell the press that President Donald Trump is still a “high priority”.
“Mutual tariffs are an absolute priority for the President, (they) were forever. You know, our trading partners charge much more with the tariffs than we report. And he talked about what he talked about earlier,” Hassett said in white House Press Gaggle Wednesday morning.
“And today there must be many more actions,” he continued. “We started negotiations with other countries. I did this early in the morning.”
Trump in Mexico and Canada will be able to enter the next month after both countries took a 30 -day break; The United States and China have introduced 10% tariffs between phone calls, Trump and Chinese President XI Jinping; And only this week, Trump announced that the import of aluminum and steel is a 25% tariff.
Trump plays a dangerous duty tariff game despite his “really strong” agenda, the US economist warns
Tariffs are taxes on imported goods and services. While they played a more historically significant role in the contribution of federal tax revenues, developed countries have moved from relying on tariffs as the main source of financing and forms of other taxes such as income, payroll or sales taxes.
The director of the National Economic Council of the White House, Kevin Hassett, has indicated that mutual tariff negotiations are in progress with “other countries”. (Getty Images)
In the United States, the Customs and Border Protection (CBP) agency is collected, which is a basement of the Ministry of Homeland Security. Trump suggested a “External revenue service“This would be responsible for collecting tariffs, though it is not clear that this plan is moving on.
Scott Bessent, secretary of the United States Treasury, calls for President Donald Trump’s economic and fiscal goals in his first interview on Kudlow, since joining the administration.
President Trump also discussed the use of tariffs to return the US economy to the “golden age”, which potentially eliminates federal income tax and predominantly support government spending with tariffs.
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Monetarymacro.com Cio Joseph Wang argues that President Donald Trump’s Canadian and Mexican tariffs are not just a negotiating tactic of “making money”.
“We talked about just establishing the basis for discussions on mutual trade,” Hassett said about alleged meetings on Wednesday. “Of course, Howard Lutnick was the person who today was Howard Lutnick. But I was on the calls too.”
It’s all “ongoing work,” Hassett added. “Everyone is talking about it right now. And conversations with other countries have actually started this morning. You may see a announcement of progress or things you think (Trump) is after changing some views with foreign people today. And yesterday.
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Fox Business Eric Revel contributed to this report.
