5 months ago
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National Economic Council Director Kevin Hassett defended President Trump's sweeping planetary tariffs that person stoked concerns astir the United States economy.
During a Sunday interrogation connected ABC's "This Week," Hassett said helium doesn't judge determination volition beryllium a "big effect connected the user successful the U.S.," noting that much than 50 countries are besides "coming to the table" to negotiate.
"So the information is, the countries are aggravated and retaliating — and, by the way, coming to the table," helium said. "I got a study from the [U.S. commercialized representative] past nighttime that much than 50 countries person reached retired to the president to statesman a negotiation, but they're doing that due to the fact that they recognize that they carnivore a batch of the tariff."
"I don't deliberation that you're going to spot a large effect connected the user successful the U.S., due to the fact that I bash deliberation that the crushed wherefore we person a persistent long-run commercialized shortage is these radical person precise inelastic supply," Hassett added.
Hassett is defending Trump’s wide 10 percent tariff connected goods imported to the U.S., on with different targeted tariffs connected assorted U.S. trading partners. After Trump announced the tariffs, the markets plummeted. On Friday, the Dow Jones Industrial Average dropped 2,200 points, and the S&P 500 mislaid 10 percent implicit the people of 2 days.
The president has vehemently defended the tariffs, saying connected Saturday that the extremity effect volition service arsenic an “economic revolution.”
“HANG TOUGH, it won’t beryllium easy, but the extremity effect volition beryllium historic," helium wrote connected Truth Social. "We will, MAKE AMERICA GREAT AGAIN!!!”
