Squawk Pod Tariffs & a “Drug War” with NEC Director Kevin Hassett 02/03/25
Feb 3, 2025
Kevin Hassett, former Director of the National Economic Council under President Trump, unveils the complexities of tariffs and their unexpected links to the fentanyl crisis. He argues these measures are more about a drug war than a trade war, sparking discussions on Canada’s potential retaliation. The episode also dives into the implications for the auto industry, global economic strategies, and how the tariff landscape influences public health issues. Insights from notable analysts further enrich the conversation.
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Drug Problem in Canada
- Kevin Hassett recounts a personal experience in Canada, witnessing drug-related incidents.
- He uses this to illustrate the severity of the drug problem in Canada, claiming it's comparable to San Francisco.
Tariffs as Negotiation
- Kevin Hassett argues the tariffs are primarily a negotiation tactic to address the fentanyl crisis, not a trade war.
- He suggests the tariffs could be lifted if Canada and Mexico cooperate on border security and drug control.
Necessity of Tariffs
- Andrew Ross Sorkin questions whether tariffs were necessary to gain leverage in negotiations with Canada and Mexico.
- He also raises concerns about the potential negative economic impact of the tariffs on the American public and global economies.