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Donald Trump selects Kevin Hassett to lead National Economic Council

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19 hours ago

November 26, 2024

Business Finance News

White House Council of Economic Advisers Chairman Kevin Hassett addresses reporters during the daily briefing at the White House in Washington, U.S. February 22, 2018.

Jonathan Ernst | Reuters

President-elect Donald Trump picked Kevin Hassett to lead the National Economic Council, a role that puts him at the center of the administration’s policy-making discussions from trade to taxes and deregulation.

The move brings Trump closer to rounding out his economic team, with U.S. trade representative being the last of the key positions left.

Trump made the announcement in a post on Truth Social.

During Trump’s first administration, Hassett served as the chairman of the Council of Economic Advisers for two years, supporting the Republican’s corporate tax cuts and defending Trump’s punitive tariffs.

The 62-year-old Hassett also worked with Trump’s son-in-law Jared Kushner on immigration and backed a move to end waivers of sanctions for countries that buy Iranian oil.

The appointment came as Trump renewed his vow to raise tariffs by an additional 10% on all Chinese goods coming into the U.S. and impose tariffs of 25% on all products from Mexico and Canada. Such a move would end a regional free trade agreement.

Trump is set to be inaugurated as the next U.S. president on Jan. 20. He cited illegal immigration and illicit drug trade as reasons for the tariffs.

Hassett previously served as a scholar of fiscal policy at the conservative American Enterprise Institute think tank before Trump nominated him to the White House role in 2017.

Late last week, Trump signaled his intention to nominate Scott Bessent, founder of hedge fund Key Square Group and a seasoned market pro, as his Treasury secretary.