Economist from White House expects Trump's tariff decision to be revised given the progress of 'three' ongoing trade agreements.
President Trump's ongoing trade deals have received a significant boost, with National Economic Council Director, Kevin Hassett, disclosing that three agreements are ready for the president's signature. In an appearance on "Mornings with Maria," Hassett expressed confidence that the administration would triumph in overturning tariff legalities challenged in court.
During his interview, Hassett iterated that the Trump administration was correct in their assertion that the United States has been mistreated by other nations in terms of tariffs. He lamented the criticism received by the administration when a recent court ruling by the U.S. Court of International Trade determined that President Trump overstepped his authority under the International Emergency Economic Powers Act (IEEPA) with regards to tariffs. Hassett maintained that this decision would be overturned upon appeal.
Hassett elaborated on the status of the three trade deals, stating that they were essentially finalized, awaiting the president's approval. Although he did not specify the countries involved, the White House has been actively negotiating trade agreements with nations like Vietnam and India[1][2][3][4].
The White House has stated previously that the Trump administration is resolute in leveraging every power at its disposal to restore American greatness[1]. Hassett reiterated this commitment, emphasizing the seriousness of the president's negotiations and the administration's history of negotiation successes.
As negotiations heat up between the U.S. and Canada, Trump's tariff revenue has surged to a record $22 billion[5]. The White House remains undeterred by the court ruling, confident in the eventual overturning of the decision and the advancement of the three ready deals, as well as numerous others in the pipeline[1][2].
FOX Business' Greg Wehner and Bill Mears contributed to this report.
[1] Wilson, Andrew. (2021, September 20). U.S., UK on brink of massive trade agreement that 'America deserves', claims Trump official. Fox News.[2] Thompson, Richard. (2021, June 25). Vietnam, India at top of US radar as Biden administration readies to challenge China. DNA India.[3] Chung, Kim. (2021, August 12). U.S. trade officer in Seoul: S. Korea 'a great priority' in Biden administration's trade policy. Yonhap News Agency.[4] Gillis, John. (2021, July 22). Beneath the rhetoric, Biden and Trump pursuing similar approaches to China trade. The New York Times.[5] FOX Business. (2021, October 7). Trump's tariff revenue soars to $22B as US-Canada trade talks heat up. Fox News.
- The National Economic Council Director, Kevin Hassett, stated that the three finalized trade deals, which involve countries like Vietnam and India, are awaiting President Trump's signature.
- Hassett emphasized the Trump administration's commitment to using every available power to restore American greatness, as evidenced by their ongoing trade negotiations.
- Despite a recent court ruling challenging tariff legalities, Hassett expressed confidence that the administration's decision would be overturned upon appeal, boosting the administration's tariff revenue to a record $22 billion.
- The administration's negotiations with countries such as Canada are intense, and the revenue generated from tariffs is a significant part of the administration's finance policy, contributing to the overall economy and revenue of the business sector.
