Kevin Hassett, director of the White House National Economic Council (NEC), stated in a Monday interview that billionaire hedge fund manager Bill Ackman “should tone down his language” after Ackman cautioned that President Trump’s tariffs might “result in a self-inflicted economic nuclear winter.”
During a segment on Fox & Friends on Monday, Hassett labeled Ackman’s comments regarding last year’s President Donald Trump as “completely irresponsible language.”
“I encourage everyone, particularly Bill, to temper their language somewhat,” Hassett said in response to Ackman’s warning during the interview.
Hassett highlighted that most of the nation’s GDP is not influenced by Trump’s latest sweeping tariffs, emphasizing that imports make up only 14% of the GDP.
“Even if you believe there’s some negative trade impact, it’s still a minor part of GDP,” Hassett remarked. “The notion that it will lead to a ‘nuclear winter’ or something akin to that is utterly irresponsible rhetoric.”
He contended that he and others within the White House continue to maintain that “these economic reactions are being overstated by detractors.”
Hassett’s comments follow Ackman’s stern warning regarding the dangers of Trump’s tariffs.
Ackman indicated that Trump should think about “negotiating and addressing asymmetrical tariff issues and proposing a ’90-day timeout’ to generate new trillions in investments in our nation.”
If that does not occur and instead the US triggers an economic nuclear conflict globally, investments will freeze, and consumers will tighten their spending.
“The president has the chance to call a timeout on Monday and take time to rectify the unjust customs system,” Ackman states. “Otherwise, we are heading toward a self-inflicted economic core winter, and we need to begin to act.”
https://thehill.com/business/economy/5236018-trump-tariff-rhetoric/
