White House Advisor Sees 1Q23 Growth, Cites Trump Tariffs

The White House Economic Advisor, Kevin Hassett, expressed cautious optimism about the U.S. economy, stating that the first quarter of 2023 is expected to barely enter positive growth territory. This growth is attributed to the legacy issues from the Biden administration and the tariff timeline implemented by former President Trump. Hassett noted that Trump's trade policies are beginning to yield the intended results, encouraging manufacturing and job creation within the U.S.

Hassett's remarks come at a time when discussions about an economic recession have been circulating. He advised approaching these discussions with caution, emphasizing that the first quarter's growth, though minimal, is a positive sign. The advisor also highlighted that the uncertainty surrounding trade policies is expected to be resolved in early April, which could further stabilize the economy.

The administration's focus on addressing trade policy uncertainties is seen as a crucial step in fostering economic growth. The resolution of these uncertainties is anticipated to provide a clearer path for businesses and investors, potentially boosting confidence in the market. The advisor's comments reflect the administration's commitment to implementing policies that support economic growth and job creation, despite the significant challenges posed by ongoing trade disputes.

Critics have argued that the administration's trade policies have created uncertainty and instability in global markets, negatively impacting economic growth. However, the administration maintains that these policies are essential for protecting American jobs and industries, ultimately leading to a stronger economy. The advisor's remarks were seen as a reassuring signal to investors and the public, indicating the administration's dedication to economic stability and growth.

While some analysts remain skeptical about the administration's ability to deliver on its promises, the economic advisor's comments were generally welcomed by the business community. The advisor's optimism and the anticipated resolution of trade policy uncertainties in early April are seen as positive developments for the economy. However, the challenges ahead, including ongoing trade disputes, will require continued diplomatic efforts and negotiations to overcome.