In a recent announcement, Kevin Hassett has been chosen by President-elect Donald Trump to head the National Economic Council. This pivotal position puts him at the forefront of discussions on various key policies ranging from trade negotiations to tax reforms and deregulation initiatives.
With this appointment, Trump is nearly finished assembling his economic team, leaving just the U.S. Trade Representative role to be filled. The news was shared on Trump’s platform, Truth Social, highlighting the importance of Hassett’s role.
In another move, Trump has selected attorney Jamieson Greer to take on the role of U.S. Trade Representative, with the announcement made on Tuesday. Hassett is not new to working with Trump; during the first administration, he led the Council of Economic Advisers for a couple of years. He was a strong supporter of the Republican corporate tax cuts and was known for defending Trump’s tariffs.
In addition to his economic expertise, Hassett, who is 62, collaborated with Jared Kushner on immigration issues and backed policies to eliminate sanctions waivers for countries purchasing Iranian oil. His experience is likely to be pivotal as Trump plans to increase tariffs by 10% on all Chinese imports and impose a hefty 25% tariff on products from Mexico and Canada. These significant moves aim to end a long-standing regional free trade agreement, with Trump citing illegal immigration and drug trafficking as key motives for these tariffs.
As Trump is set to take the oath of office on January 20, these tariff plans are under significant attention. Before taking on roles within Trump’s administration, Hassett was known for his work on fiscal policy at the conservative think tank, the American Enterprise Institute.
Last week, in a further move to build his financial team, Trump announced his intention to nominate Scott Bessent, the reputable founder of Key Square Group, as Treasury Secretary. As a veteran in the markets, Bessent brings substantial expertise to this critical position.
