Trump’s aide says U.S. won’t face recession and hails ‘amazing’ tariff deal offers

Efe Udin

April 14, 2025

National Economic Council Director Kevin Hassett on Monday said the U.S. is not heading for a recession in 2025 and claimed the country has received “very good, amazing” trade deal offers from more than ten nations following a series of tariffs imposed by President Donald Trump.

“There is 100% not going to be a recession this year,” Hassett said in a Fox Business interview, rejecting concerns that Trump’s trade moves may damage the economy. He insisted the U.S. is benefiting from the new tariffs, with firms exploring reshoring options and consumers accelerating purchases of foreign goods in anticipation of further hikes. “So everything’s through the roof, anecdotally,” he added.

Source: CNBC

More than ten countries offer trade deals

Following steep tariffs announced earlier this month, Hassett said that more than ten countries have approached the U.S. with proposals for trade deals. “The one question that I have open in my mind is, should we go one at a time, or should we announce a bundle all at once?” he said.

President Trump, along with U.S. Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick, is now reviewing the offers. The president’s tariff policy has sparked volatility in markets but also triggered diplomatic outreach from trading partners.

Hassett also addressed growing calls for investigations into possible insider trading related to Trump’s abrupt tariff reversal last week. Just hours after steep reciprocal tariffs took effect, Trump reduced them to a 10% flat rate for 90 days for all countries except China.

The move caused a major swing in the stock market, prompting Democrats to raise concerns. Some pointed to Trump’s Truth Social post hours before the announcement, where he wrote, “THIS IS A GREAT TIME TO BUY!!!”

Read Also: China urges U.S. to reverse course on tariffs after tech exemptions

“There was no insider trading at the White House,” Hassett said, adding that large market movements are always subject to routine scrutiny. “When there are big movements in markets, then there are people around town that investigate and make sure that nothing funny was happening. But I’m sure it’s not anything to do with the White House.”

Democrats call for SEC probe

Meanwhile, lawmakers, including Sen. Cory Booker, D-N.J., have called for congressional hearings. House Democrats also sent a letter to the Securities and Exchange Commission after reports of a spike in call option purchases just before the tariff pause.

Hassett’s remarks came as markets rebounded Monday following the tariff reduction and temporary exemption of electronics, though Trump later denied any exemptions had been granted.

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CNBC