Economic advisor Kevin Hassett argues Trump’s tariffs aren’t causing inflation

Kevin Hassett emphasizes that growing patriotism among consumers is reducing inflation pressures by encouraging the purchase of U.S.-made products. He claims that import prices actually fell between December and May, despite tariff increases, indicating a shift in consumer preferences toward domestic manufacturing.

Despite newly announced tariffs of 30% on the EU and Mexico, markets remained steady, showing calm among investors. However, some economists criticize the White House’s methodology for underreporting the effects of tariffs, suggesting that stockpiling may have temporarily masked real price trends.