White House economists say mutual tariff negotiations with other countries are underway
Kevin Hassett, director of the National Economic Council, analyzes the impact of President Donald Trump’s tariffs on “Kudrow.”
National Economic Council Director Kevin Hassett It showed that conversations with “other countries” about mutual tariffs were ongoing, informing news outlets that it remains a “high priority” for President Donald Trump.
“Mutual tariffs are an absolute priority for the President. They have been forever. Our trading partners charge us more tariffs with tariffs than we charge. And That’s what he said before,” House Press Gaggle Wednesday morning.
“And we need more action today,” he continued. “We started negotiating with other countries. I was doing that early this morning.”
Trump’s 25% tariffs in Mexico and Canada could come into effect next month after both countries are given a 30-day suspension. The US and China have made a round-trip round-trip tariffs between Trump and Chinese President Xi Jinping as calls loom on. And this week, Trump announced a 25% tariff on aluminum and steel imports.
Trump is playing a dangerous tariff game despite his “really strong” agenda, US economists warn
Customs duties are taxes It is imposed on imported goods and services. Although they historically played a more important role in contributing to federal tax revenue, developed countries have been averse to relying on tariffs as the main source of funding, including income, salary, sales tax, etc. We have moved to a form of taxation.
Kevin Hassett, director of the White House National Economic Council, has shown that mutual tariff negotiations continue with “other countries.” (Getty Images)
In the United States, tariffs are collected by the Customs and Border Protection (CBP) Agency, a sub-agency of the Department of Homeland Security. Trump suggested “create.”External revenue services“It will be responsible for collecting customs duties, but it is unclear whether the plan will move forward.
US Treasury Secretary Scott Bescent addressed President Donald Trump’s economic and financial goals in his first interview on “Kudrow” since joining the administration.
President Trump has also discussed using tariffs to bring the US economy back to the “golden age,” potentially eliminating federal income taxes, and has supported government spending primarily on tariffs.
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Monetarymacro.com CIO Joseph Wang argues that Donald Trump’s tariffs in Canada and Mexico are more than just negotiation tactics about “making money.”
“We were saying it would just lay the foundation for discussions about mutual trade,” Hassett further said of the allegations at Wednesday’s meeting. “The person leading these discussions today was of course Howard Lutnick, but I was answering those calls too.”
It’s all “work in progress,” Hassett added. “Everyone is talking about it now. And in fact, conversations with other countries started really early this morning… what you’re thinking (Trump) after having the views of today’s foreigners. You might see announcements about progress and guidelines and yesterday.
Eric Revell from Fox Business contributed to this report.