The director of the National Economic Council, Kevin Hassett, analyzes the impact of President Donald Trump’s prices on “Kudlow”.
National Economic Council Director Kevin Hassett said that conversations with “other countries” on reciprocal prices are underway, telling the press that it remains a “high priority” for President Donald Trump.
“Reciprocal prices are absolutely a high priority for the president, [they] have been forever. You know, our business partners charge us much more in prices than we facilitate them. And it was something he talked about before, “said Hassett in a White House press press on Wednesday morning.
“And there must be much more action on this subject today,” he continued. “We even started to do negotiations with other countries. Early this morning, I was doing this.”
The 25% prices of Trump on Mexico and Canada could take effect next month after the two countries have obtained a 30 -day break; The United States and China have promulgated 10% reciprocal rates as a telephone call is looming between Trump and Chinese President Xi Jinping; And right this week, Trump announced 25% of rates on aluminum and steel imports.
Trump plays a dangerous price game despite his “really strong” program, the American economist warns
Prices are taxes seen on imported goods and services. Although they historically played a more important role in the contribution to federal tax revenues, developed countries have moved away from the understanding of prices as the main source of financing and moved to other forms of taxes – such as income, payroll or sales taxes.
The director of the National Council of the White House, Kevin Hassett, said that reciprocal tariff negotiations continued with “other countries”. (Getty Images)
In the United States, prices are collected by the Customs and Border Protection Agency (CBP), which is a undergoes of the Ministry of Homeland Security. Trump proposed to create a “External Reginème Service“It would be responsible for collecting prices, although it is not clear if this plan goes ahead.
The American secretary of the Treasury, Scott Bessent, is aimed at the economic and budgetary objectives of President Donald Trump in his first interview on “Kudlow” since entering the administration.
President Trump also discussed the use of prices to bring the American economy back to his “golden age”, potentially eliminating federal income tax and mainly supporting public spending with prices.
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The CIO of Monetarymacro.com Joseph Wang maintains that President Donald Trump’s prices in Canada and Mexico are more than a simple negotiation tactic on the “ money winner ”.
“We were talking about simply laying the foundations for reciprocal trade,” said Hassett about the alleged meetings on Wednesday. “The person who directed these discussions today was Howard Lutnick, of course. But I was also on these calls.”
This is all “a work in progress,” added Hassett. “Everyone is talking about it right now. And in fact, conversations with other countries started this morning very early … you might see an advertisement on progress or also [Trump’s] Thinking after having some exchanges of opinions with foreigners today and yesterday. It’s no longer a outline. “”
Eric Revell by Fox Business contributed to this report.
