US may cancel tariffs on goods that cannot be produced domestically - White House

WASHINGTON: The United States (US) is not ruling out the possibility of removing duties on goods that cannot be produced domestically for various reasons, said Kevin Hassett, the head of the White House National Economic Council, reported Sputnik/RIA Novosti.

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Kevin Hassett said the US may exempt products that cannot realistically be manufactured domestically, with trade officials reviewing options.
Trump argued tariffs have improved inflation, lifted stock markets, and generated major revenue to help reduce national debt.
He pledged a US$2,000 perperson dividend from tariff income for Americans except highincome earners.

"I think that if there's something that's not made in the US at all, that there's an appetite, and [US Trade Representative] Jamieson Greer is leading the effort to study these matters, to exempt things if they're really not meant to be made in the US because of, you know, like climate or things like that," Hassett told CBS.

On November 9, President Donald Trump noted the importance of tariffs on foreign goods, saying they had improved the country's inflation rate and helped drive US stock prices to record levels.

He also criticised opponents of tariff policy, emphasising that the US earns trillions of dollars from tariffs, which will help pay off the country's US$37 trillion debt.

Furthermore, the US leader promised to pay Americans, except those with high incomes, a dividend of US$2,000 per person from the tariff revenue.

--BERNAMA-SPUTNIK/RIA NOVOSTI