US Economy Ready for Tariffs: White House

The US economy is prepared for the potential impact of tariffs proposed by the Trump administration, stated Kevin Hassett, director of the White House Council of Economic Advisers.

“I think the economy is certainly ready for tariffs. As you can see, we are now experiencing a boom in capital investments,” Hassett said in an interview with CNBC.

Hassett noted that he had heard from an executive of a company about the billions of dollars that the company is investing in domestic production.