White House NEC Director Kevin Hassett gives an update on the current status of trade negotiations around the world. After finishing a CNBC interview (also linked below) Director Hassett noted that Asia was likely to be the next place for an announcement following the completion of the United Kingdom deal.
Hassett outlines that approximately “two dozen” bilateral free trade agreements are completed within the reciprocity framework, and the sequencing of announcements is up to President Trump. Japan, South Korea and ASEAN nations would be candidates for the next deal as announced. Treasury Secretary Scott Bessent and USTR Jamieson Greer are currently in Switzerland and will be meeting with their Chinese counterparts to begin the first point of discussion. WATCH:
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The press availability above comes immediately following a more extensive CNBC interview which is outlined below.
Director Hassett is always very professional and careful not to step on the toes of the primary trade negotiators: Secretary Lutnick, Secretary Bessent and USTR Jamieson Greer.
The U.K. deal helps to structure the parameters of expectation for all other trade agreements. Second to China, India is perhaps the most complex and the sequencing plays a key part of the strategy. Happy warrior Hassett also discusses the tax policy negotiations that are taking place between the White House, the House and Senate.
No tax on tips, no tax on overtime, no tax on U.S. auto loans is all campaign promises that are priorities for President Trump.
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God is Good! Happy Friday!
I LOVE the Happy Warriors like Kevin Hassett…. I’m not tired of WINNING!
Thank you God!
Oh Lord, hear our prayers.
I hear the horn, Riggo’s in the endzone – Wall Street couldn’t stop us – neither will Powell
How bout no tax on income! Tarrifs should replace federal income tax and repeal this illegal tax now!
This has always confused me. We erect high tariffs. Other country agrees to lower theirs. We follow in kind. My T’s goals are accomplished. But in this scenario would it be enough revenue to replace the income tax? Doesn’t seem like it.
Nearly 50% of Americans pay no income tax. We only need $150B annually to replace the federal income tax. We’re well on track with $15+ Billion taken in from tariffs just last month. (15B x 12 months =180 Billion). Everything is Good!
Thank you for this clear explanation. No one in the media of course bothered to explain this any time Mr T mentioned the possibility of eliminating the income tax for tariff-based revenue.
The Quokkarine Rules!
👍👍👏👏
The Happy Warrior is one of
my favorites to listen to!
🥰
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Does he eat happy pills? The guy’s demeanor is phenomenal.
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Winnamins…
He has a clean conscience. He’s probably also right with God.
I’m just glad he’s no longer being displayed as a fuzzy whimsical rodent (quokka).
This man is stalwart, good, brilliant, and a man amongst men.
Thank You Kevin.
Kinda hard to hear the (cough) reporter’s questions, but they sounded like typical ‘gotcha’ nonsense. Kevin Hassett did a good job staying cool and divulging just enough to pique our interest.
Given that Japan holds more than a $trillion of USA debt, I would think they would get a free pass!
It’s an open and free market. Let them sell and find a better alternative. Good luck.
Did you miss my point? They hold more than a $trillion of our debt. What if they said FU and demanded we pay them back?
Who is this “we” you speak of…
What if,,,
We The People…
As the sovereign Constitutional authority of the United States Of America…
Said FU to anyone holding any US debt…
And took control of Our public Monies…
Through…
CAPITALISM
The economic condition wherein The People own the “capital” {public Monies}…
And
The Government owns the “ism”.
RICO the Federal Reserve Bank.
Give US Our own damn Monies back.
Justice served = problem solved
Personality does not factor in mathematics.
In God We Trust
{All others pay cash}
Trust God
Fear not
First of all, there is no note to call due. 2nd, there is a very deep market for treasuries, and they may have missed the window of opportunity to inflict damage. Already with the UK deal announced, treasuries gained value – meaning demand for treasuries is increasing.
Japan doesn’t hold some mysterious”on demand” debt. They hold T-bills and such with dated maturity. All they can do is hold them and redeem as contracted or sell them on the open market. If they don’t buy new T-bills, fine. Someone else will.
Without the US Japan is in a bad position. They will never play the FU card. Not unless they decide to ally with China.
The other thing to keep in mind is that the Japanese purchased these bonds largely b/c of trade deficits. If you run surpluses with all the other nations, what else can you do but buy bonds or real estate with those surplus dollars?
And it works both ways too. The US could say FU and default on those bonds. Either FU is an act of war, that won’t happen.
Itdss bern discussed ad nauseum, a “run” on the dollar hurts all those holding treasuries, because since they can not dump them instantly, once it becomed clear thats what happening, they get stuvk holding worthless paper.
Its a false argument and distraction.
We print more money and pay them back. All it would be is refinancing existing debt. If a country dumps a lot of our debt quickly, it would drive the price they receive down. Not a very smart strategy.
I checked with grok. The holders of most US government securities cannot demand early repayment. The holder has to wait until the maturity date.
What most do not understand is when Trump goes after mid terms and becomes a lame duck all these deals go away. Name one dollar of investment money that has arrived here to date. 0 is the answer. Trump being appeased by the business world and when he leaves all stay right where they are. Hundreds of EO being done but none are becoming laws. They go away just like the future investment these companies say they are making.
but proamerican empires are being made that will be thorns for the future
We say no and dare them to do something
Besides building more Aluminum, Steel & Auto Plants in the USA
and buying more Oil & Gas
and paying the 10% Tariff Minimum?
Japan is clearly a very friendly, friend!
Point taken!
Where did the “no taxes on SS” disappear to?
Right. I hope Sundance’s failure to mention that one was just an oversight. A lot of seniors will be very unhappy if that one is not in the bill, especially after Trump’s promise.
It must have been an oversight – It’s in the “Big Beautiful Bill,” No Taxes on Social Security, No Taxes on Tips, No Taxes on Overtime!
MAGA!
I don’t think it was an oversight. Hassett didn’t mention it in the Q & A or the CNBC interview.
Where did the “no taxes on income” disappear? Now is time to repeal the 16th amendment!
Yes, I noticed that too.
It’s not free trade , it’s not reciprocal tarrifs,,,, if the tarrifs are unequal. Let’s make 1984 and double think . History.. for example they are not undocumented, they are illegal immigrants. Illegal immigrants are by definition criminals.
So they are criminal undocumented illegal migrants. Sounds about right. 👍
Invaders, imho, is the correct term.
I have lost interest, So what! No one is ever prosecuted and no one goes to jail
The honeymoon is almost over.
For nattering nabbobs of negativity, and shallow amatuers who are incapable of seeing the whole board, and overly focused on the moment and “whats in it for me/what havce ya done for me lately?”,..perhaps.
I see a long and satisfying marriage that is just gettong started…
😍 the spiro agnew h/t.
Doombots delenda est
People that don’t understand “delay gratification” think and act like they’re in their “terrible 2’s”. Way too many adults are F’n babies.
“I have lost interest”
Referencing money or mind decline?
Either way, sending get well soon best wishes so there’s a speedy return of Super MAGA Mission FOCUSED Energy.
Until fully recovered, to avoid becoming an online typhoid mary ie spreader of deadly mind viruses, a self imposed ban from posting may #BeBest. 😘
It’s to easy to loose interest and the crazies are counting on it because they don’t care about us or anything.
But you do that’s why you feel downcast and disappointed.
Trump has more reason than any of us to just loose interest (which of course is another way of saying I give up) grab some millions go over and enjoy his remaining days.
Focus on the winning
God’s got this not you or I not even Trump and his team.
We sure gave the UK a helping hand w steel and cars. One writer over there claims it’s bc British leaders made a point of complimenting and engratiating President Trump.
His words have import but Hassett is also the right guy for this “out on the north lawn” role given his demeanor. That behavior means the media like going to him and, downstream, this also makes him a valuable conduit for the administration.
MAGA!!