National Economic Council Director Kevin Hassett spoke on CNN’s “State of the Union” about the Trump administration’s trade negotiations with 130 countries. He addressed concerns from business owners who feel uncertain about making long-term decisions due to what they see as unpredictable government actions.
Hassett reassured viewers that the administration is not operating on a whim. He compared the current approach to a football game, saying that while the previous administration was "running out the clock," the Trump administration is in a "two-minute offense." This means they are pushing forward with various policies, including tax relief, deregulation, and trade.
The trade policy aims to reduce America’s reliance on foreign products, especially during times of conflict. Hassett explained that the administration is encouraging other countries to negotiate fairly. He mentioned that if countries treat the U.S. as it treats them, they can benefit from lower trade rates. Currently, negotiations are proceeding with 130 countries, many of which have reduced their rates to 10%.
Hassett also noted that while there is an ongoing process with China, the negotiations with other countries are more organized and promising. He emphasized that many nations are coming to the table with strong offers. This approach aims to create a more balanced trade environment and strengthen the U.S. economy.