Kevin Hassett, head of the National Economic Council, stated on Friday that the White House is anticipating over 15 trade agreements following President Trump’s imposition of tariffs on international exports.
While Hassett did not share specific information about the agreements, he characterized them as “really significant, significant progress.”
Last week, Trump announced a 90-day pause on “mutual” tariffs for all nations except China, negotiating an agreement with the US and aiming to extend it to foreign trading allies for three months this summer to eliminate the necessity of tariffs.
During the previous week, Hassett mentioned that several transactions are close to completion, although they need legal clearance before proceeding.
“There are numerous proposals that are quite strategic, coming from our leading trading partners,” Hassett said. As reported last Thursday by CNBC.
“This represents some of the most significant advancement in trade discussions, and I believe it’s probably the greatest progress we’ve ever experienced,” he continued.
He indicated that if other nations lift tariffs on the US, Trump would reciprocate.
“So this is the framework where the president indicated, ‘Hey, we are serious about negotiations. We are committed to reciprocity,'” remarked the White House economist.
“If you all reduce your tariffs, we will lower ours as well,” he added.
The president maintained that tariffs would enhance the American economy and manufacturing, despite reservations from economists, including Federal Reserve Chairman Jerome Powell.
“I think this time is even more advantageous, as the amount we are addressing is immense. We are collecting substantial funds from tariffs,” Trump conveyed to reporters in the Oval Office on Thursday.
“We have been treated very unfairly, and countries have competent leaders, making it challenging for us to acknowledge that they can’t do this for us anymore. We have a president who comprehends the situation,” he remarked.
