Hassett: The Trade Policy Is to Address the Nat’l Emergency, We‘re Too Dependent on Foreign Products, Especially if We Were in a Time of Conflict

RUSH EXCERPT:
HASSETT: "Oh, I don‘t think at all. It‘s run by capricious whim. The way that I would think about it is that in the previous administration, you could sort of say, if you‘re thinking about it in the football analogy, is that they were running out the clock and that what‘s going. On now in the Trump Administration is across a wide array of policy areas. We‘re in a two minute offense, and the two minute offense is pushing, as you‘ve seen, the reconciliation bill through, so that we get tax relief for American people, deregulation and of course, trade policy. Now, on the trade policy, the whole point of the trade policy is to address the national emergency that we‘re too dependent on foreign products in the U.S., especially if we were at a time of conflict. And we‘re doing something about that. And the reciprocal act was basically, guys, if you come to the table and negotiate us with us and treat us the same way we treat you, then we‘ll you‘ll get your rate really low. And so right now 130 countries, 130 countries have responded. And we‘re negotiating with them. And they‘ve got their rate down to 10%. and so really it‘s it‘s kind of almost a two world system. There‘s there‘s a process about China and that‘s very, very nascent, if at all. And then the process for everybody else. So the process for everybody else is orderly. It‘s clear. People are. Coming to town with great, great offers. We‘ve got Japan, Korea, India. I was just talking to the foreign minister of India, and everything is moving forward very quickly. And so I guess the bottom line is that that the small business owner has experienced over the last few weeks, the start of a process that‘s settling down really quite quickly. Again, 130 countries are at 10% now."