National Economic Council Director Kevin Hassett revealed on Monday that more than 10 countries have proposed “amazing” trade deals with the U.S. following President Trump’s steep tariffs on imports.
Speaking in a Fox Business interview, Hassett emphasized that concerns about a recession are “100% not” a reality for 2025.
Addressing speculation around market movements, Hassett firmly denied any insider trading by Trump or White House officials regarding the recent suspension of reciprocal tariffs.
He explained that Trump, U.S. Trade Representative Jamieson Greer, and Commerce Secretary Howard Lutnick are still evaluating whether to accept trade offers individually or in a bundle.
“The question I have is should we go one at a time, or should we announce a bundle all at once?” Hassett remarked.
The trade optimism comes as businesses are looking to bring overseas operations back to the U.S., while consumers stock up on foreign goods fearing future tariffs.
“Everything’s through the roof, anecdotally,” said Hassett, pointing to a positive jobs report as further evidence of the economy’s strength.
Despite this, a recent survey found that 62% of U.S. CEOs expect a recession or downturn within the next six months.
Bridgewater’s Ray Dalio voiced concerns on Sunday, suggesting the economic fallout from Trump’s tariffs could spiral into something “worse than a recession.”
Monday’s stock market rally, fueled by news that Trump had granted an exemption on tariffs for electronics like phones, computers, and semiconductors, brought a moment of relief.
However, the President later clarified that these products would be subject to tariffs under a separate category.
The sudden shift in tariff policy sent markets into a frenzy, prompting Democrats to raise questions about potential market manipulation or insider trading.
In the face of mixed signals, Hassett’s upbeat stance on trade and economic growth offers a sharp contrast to the growing concerns from business leaders.
As the U.S. navigates its trade strategy, the full impact of these decisions remains to be seen, though one thing is certain: the road ahead is anything but predictable.
You may Also Like: Share Market Chaos Explained: What’s Behind the Stock Meltdown and Will There Be a Recession?
