Kevin Hassett Says Trump's 50% Tariff Threat Against EU Got Trade Talks Sped Up

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Kevin Hassett, Director of the National Economic Council, discussed President Trump's use of a 50% tariff threat against the EU to speed up trade talks.

Transcript

00:00But if the stampede comes, I haven't been eating anymore.

00:02Two minutes.

00:03I understand.

00:03Okay.

00:04I wanted to ask about what the president and the posting of the EU tariffs on Friday,

00:09we were told that it kind of took some of the economic team off guard,

00:13but it ended up seeming to like it had the intended effect of having, you know,

00:18airflow of foreign players respond and saying that they're going to move now with urgency.

00:23Can you just share more of your thoughts on that?

00:24Right.

00:25Well, as I was just saying, God said you see that the negotiations with Europe

00:29are trying to find, you know, what they care about, what they really want,

00:40what possessions they want us to be, and what we really care about,

00:42what possessions we want them to be.

00:44And the problem with the EU is just that they have so many different countries

00:47that disagree about what's most important to them that they can't pick up their own minds.

00:52And so it's been very difficult to negotiate with them.

00:54And I think that because the president has such a strong personal relationship

00:57that it's appropriate that there would be just a little bit more time for the Europeans

01:01to work it out so we can get back to the table for the project.

01:04Does that make sense?

01:05It does.

01:05But did you guys know that he was going to be saying that regarding

01:08you're starting with 50% tear up on Friday, do you expect it?

01:10Do you expect it?

01:11But a bit of the other kind of big stuff, his mind, he's got a lot of stuff on his

01:14thing, so.

01:15But one question.

01:16Yeah.

01:17One question.

01:18Yeah.

01:19Yeah.

01:20Yeah.

01:21Yeah.

01:22Yeah.

01:23Well, yeah, there can be problems, but we need a lot more problems.

01:28So the progress was slower than in the future.

01:32Thank you so much, Mr. Hassett.

01:39Thank you so much, Mr. Hassett.

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