White House Adviser Kevin Hassett Hints at Breakthrough in Tariff Talks with China

Kevin Hassett, Director of the U.S. National Economic Council, shared a positive outlook on the ongoing U.S.-China tariff negotiations, suggesting that a significant update could be delivered before the end of the day. Speaking in a live interview on CNBC, Hassett noted that the Trump administration is making tangible progress in resolving key trade issues.

“We’re getting very close to a breakthrough,” Hassett stated, underscoring the administration’s renewed push to de-escalate the ongoing trade war with China. He added that the White House is engaged in intensive talks aimed at reaching mutually beneficial trade terms.

Over 20 Countries Present New Trade Proposals Amid Global Negotiation Push

In addition to developments with China, Hassett revealed that the administration has received “tough but serious” trade proposals from over 20 other nations. These offers, he explained, reflect growing international interest in renegotiating trade agreements with the United States on revised terms.

This broader engagement suggests the U.S. is expanding its global trade agenda beyond China, seeking to redefine its tariff and trade policy landscape.

Trump Administration Reaffirms Position on Tax Policy

While tariffs were the primary focus, Hassett also addressed concerns about potential changes to U.S. tax policy. He reassured viewers that President Donald Trump remains firmly opposed to raising taxes on high-income earners.

“The president has made it clear — he does not support increasing taxes on the wealthy,” Hassett said, reinforcing the administration’s commitment to pro-growth, low-tax economic policies.

What This Means for Investors and Businesses

The prospect of a breakthrough in U.S.-China trade talks and the rejection of tax increases for the wealthy could have significant implications for financial markets and business sentiment. A resolution on tariffs could reduce market volatility, encourage foreign investment, and provide clarity for multinational corporations with supply chains spanning Asia.

Meanwhile, the continued stance against tax hikes on the wealthy may help maintain confidence among high-net-worth individuals and investors concerned about potential shifts in fiscal policy.

(Sources: investing.com, reuters.com)