Kevin Hassett said his departure to the White House was not due to the tariffs



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Kevin Hassett, outgoing economic adviser to President Donald Trump, told CNBC on Monday that his imminent departure was not related to current tariff threats on China and Mexico.

Hassett has been president of the White House Council of Economic Advisors for about two years.

"It's something that's been in the making for a while," said Hassett in an interview with "Squawk Box". "If you look at the history of ECA, it is very normal for the president to leave after two years."

He added that he was about to leave at the end of June.

Trump tweeted on Sunday that Hassett would be leaving his post "shortly," claiming he "had done a remarkable job for me and the administration" and "his very talented replacement will be named as soon as I get back to the States. -United".

Hassett, who said he was unsure of his position, said the departure was partly due to "respect for the institution" and spending time with his family.

"The longer you stay in the White House, the closer you get to everyone in the West Wing," he said. "It's normal, kind of life."

Hassett, who was appointed to the White House in 2017, worked with Trump's senior advisor and son-in-law, Jared Kushner, on a draft immigration plan and supported an initiative to end sanctions waivers for countries. who buy Iranian oil.

The departure comes at a difficult time for the United States in its relations with Mexico and China. The threat of a growing trade war between Washington and Beijing persists as talks between government officials are stalled.

Meanwhile, last week, Trump announced a 5% tariff on all Mexican products, starting June 10, if that country does not stop illegal immigration substantially at the border. Mexican officials are in Washington Monday to begin talks on tariffs and border security.

"I think the president is struggling with an immigration crisis," Hassett said. "They have a list of things that Mexicans can do … and I'm comforted to see that they are in town to talk about it."

He declined to say he thought the United States and Mexico would reach an agreement before next week's deadline for tariffs.

"If you look at currency movements and rates, you can model what the market thinks," he said. "The market really does not think it's guaranteed, but right now."

Hassett said the administration is currently reviewing the situation as a whole and hopes for "positive talks" with Mexico.

"In the short term, the impacts on Mexico are much larger than those in the United States," he said, adding that he did not see a recession in the future of the United States. American economy.

– Reuters contributed to this report

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