Trump’s tariffs do not cause inflations because of the purchase of patriotism: Hosset

White House Advisor Kevin Haset Thinking on Monday what’s new rate Policy is not yet a broad value inflation Because the president Donald Trump convinced more people buy American.

“There, I think, a lot of patriotism in the data,” said Hasset on CNBC “Box for Squawk“When asked to explain why Trump’s protectionist policy has not strengthened higher prices, despite the warnings of many economists.

Director of the National Economic Council pointed to a recent White House reportwhich found that import prices declined from December to May.

“My theory, as an economist, about why this is that the Americans from the President Trump’s leadership acknowledged that by buying an American product, they not only get the best product, of course, the best product most of the time, but also make their community stronger,” said Hassetet.

“The essence is that people prefer American products,” he said.

“Thus, the demand for imports decreased down, so much that even with such tariffs were where people would say,” Oh, they can increase the prices at least a little: “We have seen prices decline.”

Hasset also claimed that the countries with which there is a trade deficit in the United States are traveling tariffs rather than transmitting higher prices to US consumers.

Expected that Trump tariffs will still lead to Higher prices This year.

And critics point out that Trump has at least temporarily distracted to some of his biggest tariff plans, including many announced during his “Liberation Day” in early April.

Others point out that many importers stock goods in anticipation of the incoming tariffs, muffling the next consequences of prices.

Ernest GermansThe director of the economy in the budget laboratory in Yeli wrote that the methodology used in the White House report “degrades the tariff effects in its import indicators.”

Tedesian, who held the post of chief economist under the Council of Economic Advisers of the White House under the former president Joe Bidenalso cited data from Harvard University Laboratory pricing Showing that the prices for imported goods have grown since the beginning of March, when US tariffs in Canada, Mexico and China came into force.