close video The trade negotiations are ‘very complex,’ White House National Economic Council director says

White House National Economic Council Director Kevin Hassett on President Donald Trump’s tariff agenda, semiconductor imports, the administration working on new trade deals and the impact of the global trade debacle on China.

The Trump trade team has made "astonishing" progress on tariff negotiations with U.S. trade partners, White House National Economic Council Director Kevin Hassett told FOX Business on Monday.

"We've got everybody in the trade team and even deputies of people in the trade team talking to just about everybody on Earth, and I think that we've got more than 10 deals where there's very good, amazing offers made to the U.S. that USTR Trade Representative Jamieson Greer and Howard Lutnick and the rest of our trade team of the president are stewing over whether those deals are good enough," Hassett said on "Mornings with Maria."

The key question, he added, is whether the administration should present one deal at a time or announce a bundle all at once.

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National Economic Council Director Kevin Hassett called tariff criticism “exaggerated” and “completely irresponsible rhetoric.” (Samuel Corum/Sipa/Bloomberg via Getty Images / Getty Images)

"We have so much progress made so quickly…" he continued, telling Maria Bartiromo there have been a "heck of a lot of talks" since the beginning of the president's second term and that two or three deals were "very close" to being closed before the Reciprocal Trade Act was even announced. 

"It's like the president will decide when he's satisfied with a deal and when he wants to announce it and how many all at once, but I can tell you the progress has been astonishing."

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Donald Trump looks on during Turning Point USA’s AmericaFest at the Phoenix Convention Center on December 22, 2024 in Phoenix, Arizona. (Rebecca Noble / Getty Images)

Hassett also responded to speculation among Democrats that there may have been insider trading, some noise that erupted after the president's decision to pause his reciprocal tariffs for negotiating countries.

"There was no insider trading at the White House," he said succinctly. 

"But I can say that when there are big movements in markets, there are people around town that investigate and make sure that nothing funny was happening. The issues will be investigated by the right officials, but I'm sure it's not anything to do with the White House."

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Greentech Research investment analyst and portfolio manager Hilary Kramer discusses how investors can navigate the market during tariff turbulence on ‘Making Money.’

When asked if he expects to see a recession this year, he poured cold water on the idea.

"100% not," he said, pointing to "strong" jobs numbers and sentiments among CEOs.