Donald Trump selects Kevin Hassett to lead National Economic Council

Published On Nov 26, 2024, 8:47 PM

Donald Trump has appointed Kevin Hassett to lead the National Economic Council, a key position in shaping U.S. economic policy. Hassett previously served as the Chairman of the Council of Economic Advisers and was involved in significant economic initiatives during Trump's first term, including tax cuts and tariffs. Trump's announcement also included his intention to impose higher tariffs on imports from China, Mexico, and Canada, seeking to address trade imbalances and illegal immigration issues. This movement indicates a continued focus on protective trade policies and could have implications for various sectors in the economy.

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Kevin Hassett's appointment may increase market volatility, particularly in sectors tied to trade and tariffs. Companies reliant on imports or those with significant exposure to international markets may experience fluctuations due to anticipated tariff increases. Industries such as technology and consumer goods could face headwinds, while domestic manufacturers might benefit from protectionist policies.

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