Hassett Downplays China's Pharmaceutical Retaliation

U.S. National Economic Council Director Kevin Hassett downplayed concerns about China potentially retaliating against U.S. tariffs by cutting off pharmaceutical supplies. He emphasized the availability of pharmaceuticals from other countries and highlighted the U.S. policy to increase domestic pharmaceutical production.

Amid growing tensions over tariffs, U.S. National Economic Council Director Kevin Hassett dismissed the likelihood that China would retaliate by restricting pharmaceutical supplies. During a Fox News interview, Hassett addressed concerns over the recent 34% tariffs on Chinese goods outlined by President Trump.

Hassett noted the global availability of pharmaceuticals, pointing out that while the U.S. has few domestic pharmaceutical plants, the current policies aim to address this issue. His comments sought to reassure that there is no immediate need for alarm.

Hassett's statements reflect the administration's stance on diversifying pharmaceutical sources and bolstering U.S. production capabilities to alleviate dependency on any single foreign supplier.

(With inputs from agencies.)