White House Gives Positive Assessment of India Tariff Talks: "Will Become a Model for Asian Countries"

Moody's Downgrade Is "Punishment for Biden Administration's Spending"

Kevin Hassett, Chairman of the US White House National Economic Council, said on the 19th (local time) regarding tariffs and other trade negotiations, "There are several negotiations that are currently very close to the finish line," adding, "I hope India can cross the finish line in a way that becomes an excellent (negotiation) model for other Asian countries."

Appearing on Fox Business that day, Hassett stated, "I wouldn't be surprised if some of these negotiations are concluded this week or next," expressing this view.

Kevin Hassett, Chairman of the US White House National Economic Council. Photo by AP Yonhap News

Regarding negotiations with India, Hassett said, "That is a matter that should be left to the people in charge of the negotiations," but added, "India has shown a very open attitude to making significant progress and has acknowledged that it has taken many actions in the past that were disadvantageous to (American) workers."

In this context, US President Donald Trump recently said during his Middle East tour, "It is very difficult to sell goods in India, but India is literally willing to offer us a no tariffs option."

Hassett also commented on the opinion that China is showing a double standard by continuing to request postponements and not lifting restrictions on rare earth exports despite tariff negotiations, saying, "We will closely monitor whether the Chinese side keeps the promises it made in the negotiations."

Additionally, Hassett addressed international credit rating agency Moody's recent downgrade of the US credit rating by one notch due to national debt and other reasons, stating, "Let me be clear, US debt (bonds) is the safest investment on the planet," and insisted, "There is no country more preferred than the United States."

He continued, "That is about the past, punishing us for the reckless spending under the previous Biden administration," adding, "We are reducing spending, pursuing deregulation, and seeing growth on the supply side. There are every reason why the United States can have the best economy on the planet."