Hassett claims tariffs raised real wages by $1,400 and dismisses price concerns

National Economic Council Director Kevin Hassett told reporters in fall 2025 that Trump's tariffs had not driven consumer price increases and had instead raised real wages by an average of $1,400 per household annually. Hassett pointed to declining import prices in the first half of 2025 as evidence tariffs were not inflationary, a position contradicted by Federal Reserve research and consumer price data showing elevated costs in food, fuel, and manufactured goods.