Kevin Hassett says US-Canada trade negotiations are gaining momentum

Kevin Hassett, director of the US National Economic Council, said in a Fox News interview on Sunday that US-Canada trade talks are gaining speed and the two neighbors may be nearing resolution of their dispute. He also defended President Donald Trump’s economic record ahead of midterm elections, citing 3% to 4% annual growth, low unemployment and industrial output at its highest since the pandemic. Annual consumer inflation rose to 3.7% in September from 3.4% in August, food inflation reached 4.4%, and gasoline averaged $4.29 a gallon versus $3.06 a year earlier. Iran’s effective shutdown of the Strait of Hormuz, a route for about 20% of global oil exports, has helped keep energy prices elevated.