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The Director of the White House National Economic Council Kevin Khasen defended President Donald Trump’s tariffs on Sunday, denied the idea that they would cost more to US consumers.
“So the fact is that the sides are angry and avenging – and by the way, come to the table. I received a report from [U.S. Trade Representative] Last night, more than 50 countries have contacted the president to start negotiations, but they do this because they understand that they are carrying a lot of the tariff. And so I do not think you will see a big effect on the US user, because I think the reason we have a constant long -term trade deficit is that these people have a very inelastic supply, “Khaset told ABC News George Stefanopoulos this week.
Trump announced on Wednesday’s tariffs for almost all US trading partners. Trump’s policy includes a 10% tariff for all imports, as well as larger tariffs for some individual countries. The tariff announcement was met with immediate and continuing immersion of the stock market, as well as with various countries that are collected from igniting tariffs. Democratic MPs and Trump Economic Policy critics have raised alarm bells for a potential recession and adverse effects on US relations with the Allies.
The universal 10% tariffs came into force on Saturday, while tariffs for individual countries will come into force on Wednesday.
This is a developing story. Please check again for updates.
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