White House Economics Chief: Trump’s Tariffs Are Reciprocity, Not Trade War

Contact Your Elected Officials
The Epoch Times Header

‘If they go down, we’ll go down,’ said National Economic Council Director Kevin Hassett.

President Donald Trump’s foreign trade policy is built on the principle of reciprocity, not protectionism, White House economic adviser Kevin Hassett said on Monday.

He emphasized that U.S. tariffs are meant to match those imposed by other nations, not provoke trade wars.

“If they go down, we’ll go down,” Hassett said in an interview with CNBC on Feb. 10, a day after Trump announced 25 percent tariffs on all steel and aluminum imports into the United States.

With renewed scrutiny over Trump’s trade policies and speculation about a multi-front trade war, Hassett, who is director of the National Economic Council, said that the United States has long faced unfairly high tariffs from its trading partners.

“Almost every trading partner has much higher tariffs than we do,” Hassett said, adding that only Britain maintains tariffs roughly in line with U.S. rates. He noted that Canada and Mexico also technically fall into this category due to the United States-Mexico-Canada Agreement (USMCA), which eliminated most tariffs on North American trade.

Hassett singled out the European Union (EU), Taiwan, and India for imposing significantly higher tariffs on U.S. goods—roughly 2 to 3 percent higher in the EU, 10 to 11 percent in Taiwan, and around 20 percent in India. He described India’s rates as “lockout rates” aimed at restricting U.S. market access.

“President Trump believes that, at the very least, everybody should agree that if they’re charging us 20, then we should charge them 20, and then if they go down, we’ll go down,” Hassett said. “But that’s the idea of reciprocity in the tariff space.”

Hassett’s remarks come days before Indian Prime Minister Narendra Modi arrives in Washington for a two-day visit. The meeting follows Trump’s past criticisms of India as a “very big abuser” in trade, with the president urging India to buy more American-made goods to address trade imbalances.

Two-way goods trade between the United States and India totaled $132.7 billion in 2022, with U.S. exports at $47.2 billion and imports from India at $85.5 billion, resulting in a U.S. goods trade deficit of $38.4 billion, according to the Office of the United States Trade Representative.

By Tom Ozimek

Read Full Article on TheEpochTimes.com

The Epoch Times
The Epoch Timeshttps://www.theepochtimes.com/
Tired of biased news? The Epoch Times is truthful, factual news that other media outlets don't report. No spin. No agenda. Just honest journalism like it used to be.

Cracker Barrel’s Remake Proves Lefty Women Unfit to Lead

“The customer is always right” remains true today regardless of whether people like Cracker Barrel CEO Julie Masino opt to respect it and follow it or not.

Walmart on Its Radioactive Shrimp: ‘The Health and Safety of Our Customers Is Always a Top Priority’

“Nowadays people know the price of everything and the...

Trump Boldly Takes on Woke Indoctrination in America’s Museums 

President Trump is correcting the leftist agenda turning our cultural institutions into propaganda mills for victimhood and anti-American sentiment. 

Wicked Right

I recently watched the movie Wicked and wasn't surprised by how transparent and utterly progressive it was intended to be.

Will humanity be the victim of technological change or the master of its fate in 2026?

It's often debated whether history is primarily shaped by influential individuals, social structures, or technological innovation.

Women-Only Spa Seeks Re-Hearing in Ninth Circuit Over Admission of Transgender-Identifying Men

Olympus Spa, a women-only Korean-style spa in Washington State was legally forced to allow in transwomen, is seeking a re-hearing.

Authorities Bust Multimillion Dollar LA-Area Cargo Theft Ring

Authorities in LA County have cracked a storefront operation trafficking millions of dollars worth of goods allegedly stolen in train and cargo burglaries.

FBI Warns of Russian Cyber Hackers Targeting Critical US Infrastructure

Russian hackers breached computer systems at manufacturing plants, power grids, water treatment facilities, and other critical infrastructure in US, FBI warned.

US Manufacturing Surges to 3-Year High as Demand Strengthens, Hiring Picks Up

America’s manufacturing sector activity shot up to a 39-month high in August, driven by a surge in domestic and export demand for U.S. factory goods.

Chip Stocks Fall on Reports White House Seeking Equity in Exchange for Grants

Share prices of semiconductor companies fell following reports the Trump admin is considering taking equity stakes in exchange for federal funding.

Judge Declares Alina Habba’s Roles as US Attorney for New Jersey ‘Unlawful’

A federal judge found that Alina Habba, a former attorney to Trump, has been unlawfully serving as the top federal prosecutor in New Jersey since July.

US, EU Unveil Trade Deal Details, Capping Tariffs and Unlocking Billions in Energy and Tech Purchases

US and EU published details of trade framework caping most U.S. tariffs on European exports at 15% and commits bloc to purchases of American energy, tech, and defense equipment.

Trump Buys $100 Million in Bonds Since Return to White House

President Donald Trump has been an active investor in the bond market since returning to the White House in January.
spot_img

Related Articles