WH Economist Says Trump Doesn't Like Deals Negotiators Made
National Economic Council Director Kevin Hassett said July 13 on ABC's "This Week" that the president is not satisfied with "some sketches of deals that had been negotiated with {Commerce Secretary] Howard Lutnick and the rest of the trade team, and the president thinks that the deals need to be better, and to basically put a line in the sand, he sent these letters out to folks. And we'll see how it works out."
Sign up for a free preview to unlock the rest of this article
If your job depends on informed compliance, you need International Trade Today. Delivered every business day and available any time online, only International Trade Today helps you stay current on the increasingly complex international trade regulatory environment.
Hassett said President Donald Trump "became one of the most successful, if not the most successful, businessman in the 20th century because he was able to squeeze everything out of every deal that he made."
The host asked him if that means the rates are just a negotiating tariff, or are they real, and Hassett replied, "these tariffs are real if the president doesn't get a deal that he thinks is good enough."
Host Jonathan Karl asked Hassett why Brazil was threatened with a 50% tariff when the U.S. hasn't had a trade deficit with Brazil since 2007, and the U.S. sold $6.8 billion more to Brazil last year than it imported from Brazil.
"Well, bottom line is the president has been very frustrated with negotiations with Brazil and also with the actions of Brazil. In the end, though, you know, we're trying to put America first," Hassett said.
Karl replied, "I don't understand how you're saying it's about America because the president has made it quite clear that what he's upset about is how the Brazilian Supreme Court has handled the criminal case involving former President [Jair] Bolsonaro."
Hassett said he agreed. "What I'm saying is that what I've been saying with most countries was that it's really about us getting the tariffs in order. And I think that this tariff for Brazil is a lot higher because of the president's frustration with Bolsonaro."
Karl asked on what authority Trump can impose tariffs because he doesn't like how that country's judicial system is handling a case. Hassett said it's a national security threat, so the International Emergency Economic Powers Act applies.
Karl asked, "So, how is it a national security threat that, you know, how Brazil is handling a criminal case against this former president?"
Hassett said, "Well, that's not the only thing. That's not the only thing. I mean ... ."
Hassett said if you don't have an overall strategy for the global trade deficit, applying tariffs to surplus countries, then there will be transshipping, and you won't achieve your objectives.