On Sunday morning, Kevin Hassett, the Director of the National Economic Council, joined This Week on ABC to discuss Trump’s tariffs.
Hassett told This Week that over 50 countries have reached out to the Trump White renegotiate their trade agreements with the US thanks to President Trump’s tough stand.
This shows Trump’s tariff’s plan in already working.
Kevin Hassett: I got a report from the USDR last night that more than 50 countries have reached out to the President to begin a negotiation. But they’re doing that because they understand that they bear a lot of the tariff. And so, I don’t think that you’re going to see a big effect on the consumer in the US, because I do think that the reason why we have a persistent long-run trade deficit is these people have very inelastic supply.
They’ve been dumping goods into the country in order to create jobs, say, in China.
Via This Week on ABC News.
JUST IN: Over 50 countries have reached out to President Trump to negotiate new trade deals, US National Economic Council Director says. pic.twitter.com/cZ0MC3Fmiu
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On Wednesday, President Trump signed an executive order imposing reciprocal tariffs on dozens of countries.
Gateway Pundit contributor Antonio Graceffo reported on President Trump’s courageous and common-sense move. Democrats have criticized President Trump’s tariffs, arguing that they lead to price increases that disadvantage American workers. While tariffs can contribute to higher prices, they also benefit American workers.
Firstly, revenue generated from tariffs contributes to the government’s operating fund, potentially offsetting expenses that would otherwise be covered by income taxes. This additional revenue has opened discussions about tax relief measures, such as removing income tax from overtime pay or tips.
Tariffs can reduce the need for subsidies by leveling the playing field for American producers competing against heavily subsidized foreign imports. A good example is agriculture.
In less than one week, more than 50 countries have reached out to the White House to begin trade talks, Kevin Hassett, a top economic adviser to U.S. President Donald Trump said on Sunday.
TGP’s Ben Kew on Saturday listed a number of countries already reaching out to the Trump Administration.
Here is an initial list of countries and the tariffs Trump has imposed on their products entering the US.
| Country | Tariffs Charged to the U.S.A. | U.S.A. Discounted Reciprocal Tariffs |
|---|---|---|
| Argentina | 10% | 10% |
| Australia | 10% | 10% |
| Bangladesh | 74% | 37% |
| Botswana | 74% | 37% |
| Brazil | 10% | 10% |
| Cambodia | 97% | 49% |
| Chile | 10% | 10% |
| China | 67% | 34% |
| Colombia | 10% | 10% |
| Costa Rica | 17% | 10% |
| Côte d’Ivoire | 41% | 21% |
| Dominican Republic | 10% | 10% |
| Ecuador | 12% | 10% |
| Egypt | 10% | 10% |
| El Salvador | 10% | 10% |
| European Union | 39% | 20% |
| Guatemala | 10% | 10% |
| Honduras | 10% | 10% |
| India | 52% | 26% |
| Indonesia | 64% | 32% |
| Israel | 33% | 17% |
| Japan | 46% | 24% |
| Jordan | 40% | 20% |
| Kazakhstan | 54% | 27% |
| Laos | 95% | 48% |
| Madagascar | 93% | 47% |
| Malaysia | 47% | 24% |
| Morocco | 10% | 10% |
| Myanmar (Burma) | 88% | 44% |
| New Zealand | 20% | 10% |
| Nicaragua | 36% | 18% |
| Norway | 30% | 15% |
| Pakistan | 58% | 29% |
| Peru | 10% | 10% |
| Philippines | 34% | 17% |
| Saudi Arabia | 10% | 10% |
| Serbia | 74% | 37% |
| Singapore | 10% | 10% |
| South Africa | 60% | 30% |
| South Korea | 50% | 25% |
| Sri Lanka | 88% | 44% |
| Switzerland | 61% | 31% |
| Taiwan | 64% | 32% |
| Thailand | 72% | 36% |
| Trinidad and Tobago | 12% | 10% |
| Tunisia | 55% | 28% |
| Turkey | 10% | 10% |
| United Arab Emirates | 10% | 10% |
| United Kingdom | 10% | 10% |
| Vietnam | 90% | 46% |
