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President Donald Trump’s top economic advisor, Kevin Hassett, defended the administration’s tariff strategy after stocks surged following a 90-day pause on global tariffs. The move came amid market chaos and international backlash, with Trump raising tariffs on China to 125% while halting new levies on other nations. Hassett called the volatility “exaggerated” and insisted the president’s plan was working as intended.
Stocks rallied sharply after the pause, with the S&P 500 posting its third-best day since 1940. Hassett credited Trump’s “decisive call” to isolate China while negotiating fairer deals with over 70 countries. Critics warned of a “self-induced nuclear winter,” but Hassett argued the strategy protected American workers and spurred global cooperation. The White House dismissed recession fears, claiming the tariffs would boost wages and domestic manufacturing.
A false CNBC report about the tariff pause caused a $2.4 trillion market swing, which Hassett blamed on “fake news.” The network later corrected its story, but the incident highlighted media bias against Trump’s policies. Hassett emphasized that the president always planned to use tariffs as leverage, not as a permanent burden. “He wants people to be fair to American workers,” Hassett said, noting 15 countries had already made concrete offers.
China faced harsh measures, with tariffs hitting 125% after Beijing retaliated against U.S. goods. Hassett called China’s trade practices “exploitative” and said Trump’s tough stance would force compliance. Meanwhile, allies like Israel and Taiwan entered talks, with Hassett predicting a wave of pro-worker deals worldwide. The administration dismissed Democratic complaints, arguing the pause proved Trump’s negotiation skills.
Hassett rejected claims that tariffs hurt consumers, pointing to wage growth under Trump’s first-term policies. He accused past leaders of letting globalization crush American jobs, saying cheap imports came at the cost of lost livelihoods. “Real incomes declined $1,200 after China joined the WTO,” Hassett noted. The new tariffs, he argued, would reverse this trend by reshoring industries like medicine and semiconductors.
Democrats called the tariff rollback chaotic, but Republicans praised Trump’s flexibility. Senator Ted Cruz urged the president to “heed voices of reason,” while officials touted progress with Japan, Vietnam, and South Korea. Treasury Secretary Scott Bessent claimed Trump “maximized leverage” and warned countries against retaliating. “Don’t hit back, and you’ll get rewards,” Bessent said.
The 90-day window lets Trump focus on China without distractions. Hassett hinted at “specific offers” from 15 nations and teased future deals to rebuild manufacturing. “We’re going around the world in 80 days,” he joked, framing the pause as a strategic breather. The administration insists the move was planned all along, denying it was a retreat.
With markets stabilizing, Hassett vowed tariffs would create a “new global order” favoring American workers. He dismissed doomsday predictions, citing strong GDP growth and job gains. As negotiations accelerate, the White House plans to announce trade wins soon. “This is about making America great again,” Hassett said, “and the world is finally listening.”
