Expounding on the administration’s positive economic news, Kevin Hassett, the National Economic Council Director said, “It’s all coming up roses on Fox Business yesterday. He noted that over ten countries have already put forward “very good, awesome” offers on trade deals with the United States. This new increase provides some hope for productive economic negotiations.
When pressed on the topic during his confirmation hearing, Hassett explicitly ruled out any possibility of inside trading by POTUS or WH staff. This announcement followed Senator Cory Booker’s demand for congressional hearings related to these claims. Hassett emphasized, “There was no insider trading at the White House.”
Economic Optimism and Business Trends
Hassett’s comments were in almost perfect sync with a boisterous opening Monday morning stock market surge. This increase is partly the result of greater business optimism about the direction of the U.S. economy. He pointed to something big that’s happening among business leaders. Today, more than 1,300 companies are ready to bring their foreign manufacturing back to the states. This change is a strong sign that we’re starting to see a return of domestic manufacturing and job creation.
It’s that anxiety about future tariffs that has driven consumers to buy those foreign products, says Hassett. In fact, his bottom line assessment on the most recent U.S. jobs report data was that things are “really, really good,” which would indicate a strong labor market. The economic indicators would seem to be at odds with his statement that everything is in fact “through the roof, anecdotally.” This indicates that the economy is in a strong expansionary recovery phase.
As discussions around trade continue, Hassett mentioned that President Trump, U.S. Trade Representative Jamieson Greer, and Commerce Secretary Howard Lutnick are currently evaluating whether the offers from other countries are satisfactory. This assessment will be hugely important in setting the direction of U.S. trade policy for years to come.
Hassett’s confident outlook comes on the heels of President Trump’s announcement last week regarding a pause in reciprocal tariffs, which could create a more favorable environment for international trade negotiations. Most recently, he boldly proclaimed that the U.S. will “100% not” go into a recession this year. This assertion goes right against some of the major concerns expressed in previous economic analyses.
These three deeply anticipated trade deals along with other recent economic indicators point to a much heralded and sought after economic upturn for the United States. Because now, businesses are clamoring to return operations back to the U.S. With consumer confidence continuing to rise, the administration’s hard work may soon pay off with sustained consumer growth.
Author’s Opinion
The administration’s approach seems to be paying off as consumer confidence and optimism around trade deals build momentum. While doubts remain, especially around the high tariffs, it’s clear that the U.S. is in a position to turn the page on its economic challenges with new manufacturing investments and favorable trade terms.
Featured image credit: FMT
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