By Charles Switzer
1:58am PDT, Apr 16, 2025
Trump Trade Team's Progress on Tariff Negotiations
White House National Economic Council Director
Kevin Hassett praised the
Donald Trump administration's trade team and their progress on tariff negotiations with U.S. trade partners, calling the results "astonishing."
In an interview on
FOX Business, Hassett explained that the team — including deputies from various departments — had been engaging in discussions with nearly every nation.
"We've got everybody in the trade team and even deputies of people in the trade team talking to just about everybody on Earth," he said, highlighting the vast number of negotiations underway.
Here are four key takeaways from Hassett's chat.
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Multiple Offers and Decision-Making Process
Kevin Hassett elaborated that the U.S. had received "more than 10 deals" with "very good, amazing offers" from trade partners.
He mentioned that U.S. Trade Representative (USTR)
Jamieson Greer, along with
Howard Lutnick and other members of the trade team, were reviewing these offers to determine if they
meet the administration's criteria.
The key question, according to Hassett, is whether the administration should announce individual deals or present a bundle of agreements at once. "We have so much progress made so quickl," he noted, emphasizing the speed and volume of talks since President Donald Trump's second term began.
Close Deals Before Reciprocal Trade Act Announcement
Kevin Hassett went on to claim that "two or three deals were very close to being closed before the Reciprocal Trade Act was even announced."
He also mentioned that the decision on when to announce the deals would ultimately rest with President Donald Trump, depending on when he felt satisfied with the terms.
"It's like the president will decide when he's satisfied with a deal and when he wants to announce it and how many all at once," Hassett said.
Addressing Insider Trading Speculation
In response to speculation that insider trading may have occurred in connection with the president's decision to pause reciprocal tariffs, Kevin Hassett was quick to dismiss the notion: "There was no insider trading at the White House," he asserted.
He also explained that while there are often significant market movements, investigations would be carried out by
appropriate authorities to ensure that no improper actions had taken place.
"When there are big movements in markets, there are people around town that investigate and make sure that nothing funny was happening," Hassett added.
No Recession Expected Amid Strong Economic Indicators
When asked about the potential for a recession later in the year, Kevin Hassett strongly rejected the idea: "100 percent not [happening]," he said, pointing to strong jobs numbers and positive sentiments from CEOs as evidence of the economy's health.
He expressed confidence that the economic fundamentals remain robust, dismissing recession concerns as unfounded.
