Trump aide Hassett says U.S. got ‘amazing’ tariff deal offers, recession ’100% not’ happening

Trump Aide Hassett Says U.S. Got ‘Amazing’ Tariff Deal Offers, Recession ‘100% Not’ Happening

By Steven Orlowski, CFP, CNPR
April 16, 2025

In a series of upbeat remarks sure to bolster confidence among markets and supporters of former President Donald Trump, Kevin Hassett, a former top economic adviser in the Trump administration, said this week that the U.S. secured “amazing” tariff deal offers during Trump’s tenure and dismissed any concerns of a looming recession, saying it is “100% not” going to happen.

Speaking on a panel hosted by a conservative think tank in Washington, D.C., Hassett outlined what he described as the lasting economic benefits of Trump-era trade policies, particularly those centered on tariffs and renegotiated trade deals with China, Mexico, and Canada.

“The United States was in the strongest negotiating position it had been in decades,” Hassett said. “We got amazing tariff deal offers on the table — ones that protected American industries, brought manufacturing back home, and rebalanced unfair trade dynamics.”

Hassett, who served as Chairman of the Council of Economic Advisers from 2017 to 2019, argued that Trump’s aggressive use of tariffs was not merely a pressure tactic, but part of a broader strategy to recalibrate global trade relationships in favor of American workers and producers. He pointed to the U.S.-Mexico-Canada Agreement (USMCA) and the Phase One trade deal with China as examples of successful outcomes from that strategy.

Critics, including many mainstream economists, have long contended that tariffs are a double-edged sword — raising costs for American consumers and businesses while risking retaliation from trade partners. But Hassett insisted that the Trump administration’s approach set the groundwork for a stronger domestic economy that can withstand global shocks.

“The resilience we see in the economy today is in part due to those decisions,” Hassett said. “People underestimated how powerful it would be to bring supply chains back to the U.S. — but it’s paying off.”

Addressing recent fears of a potential recession driven by global instability, high interest rates, and post-pandemic volatility, Hassett waved off the concerns.

“There’s a lot of fearmongering going on, but a recession is 100% not happening,” he declared. “The fundamentals are strong. Unemployment is low. Corporate earnings are solid. Inflation is cooling. The pessimism is political, not economic.”

While Hassett’s remarks reflect a bullish take on the U.S. economy, they come amid mixed signals from recent economic data. Consumer confidence has been fluctuating, job growth remains steady but slower than the post-pandemic boom, and inflation has moderated but not fully returned to pre-COVID levels. The Federal Reserve has held interest rates at elevated levels to fight inflation, further fueling speculation about a potential economic slowdown.

Still, Hassett remains confident that the economic trajectory remains favorable — and that the policies put in place during the Trump administration continue to exert a positive influence.

“It’s not about nostalgia. It’s about results,” Hassett concluded. “The numbers don’t lie. We’re on solid footing, and if anything, we’re positioned for growth — not recession.”

As campaign season heats up and economic narratives take center stage, Hassett’s comments may signal a broader GOP messaging strategy aimed at reasserting Trump’s economic legacy as a key argument for a second term.