A main economic advisor of President Trump predicted with confidence on Monday that the US would not experience a recession this year, despite the broad uncertainty about the Tariff Regime of the Administration.
The director of the National Economic Council, Kevin Hasett, told Fox Business Network “100% No, 100% No” when the host Maria Bartiromo asked him for the possibility of a sustained recession.
“If you look at work numbers, they are very, very strong,” Hassett explained. “When I speak anecdotally with the CEO, I say things like:” Well, God, is the uncertainty about the rate seems to be a great drag? “And they say things like” no, in terms of production, we are getting everything we can. “
“In terms of sales of foreign goods, people buy as many as they can because they are, concerned about future rates,” Hasset laughed. “Then everything is in the clouds.”
On April 9, Trump stopped its reciprocal rates of the “Liberation Day” for 90 days to allow conversations with foreign nations about the so -called “spoken” trade agreements.
A base tariff of 10% in most imports remains in force, as well as a 125% reciprocal tariff in China that is such a high axis of 145% in some products.
The actions increased in early trade on Monday when the administration revealed that reciprocal tariffs would not apply to electronics, which would only be subject to an existing 20% fentanyl rate in Beijing.
The president acknowledged that Thorsday may be “transition problems” when adapting to taxes, but insisted that his policy would work as a “beautiful thing.”
“There will be a transition cost and transition problems, but in the end, it will be, it will be somewhat beautiful. We are doing again, what we should do many years ago,” Trump said at a cabinet meeting.
“The best definition of intelligence is the ability to predict the future!” The 78 -year -old wrote at All Caps On Truth Social on Monday morning.
The White House Economic Team has the task of negotiating with foreign nations before the new rate deadline of July 8, and has not established a specific schedule to reach agreements with private countries.
The agreements could potentially include foreign policy considerations such as military presence and foreign aid, said White House Secretary, Karoline Leavitt, to The Post last week.