The White House suggests that some countries could see the deadline for changed rates

The president of the Economic Advisors of the White House, Stephen Look, said that some countries that are negotiating with the United States in good faith could see the delayed tariffs such as the deadline of President Donald Trump to attack trade agreements.

Speaking to the presenter “This Weak” of ABC News, George Stephanopoulos, Mira covered what agreements are in process.

“In tariffs, the president’s deadline for agreements is approaching. So far you have only seen three offers. What should we expect next?” Stephanopoulos asked.

“I am still optimistic that we are going to obtain a series of offers at the end of this week. Part of that is due to the fact that all negotiation goes through a series of steps that lead to a culmination timed with the deadline,” Miran said.

He pressed if these other agreements fail to arrive and if Trump would extend the deadline, Mira indicated that it could be possible.

“Well, my expectation would be that countries that are negotiating in good faith and making the concessions they need to reach an agreement, but the agreement is not yet there because it needs more time, my expectation will be that these countries get a roll, you know, the date is launched,” he said.

When asked what countries could see that date, Look refused to elaborate, but said he has heard good things about conversations with Europe and India.

“I would expect several countries that are in the process of making those concessions, you know, they could see their enrolled appointment. For countries that are not doing concessions, for countries that are not negotiating in good faith, I would expect them to see higher rates,” Look said. “But again, the president will decide later this week and in the time after whether or not the countries are doing to obtain access to the US market as they have become accustomed.”

Stephanopolous also joined the former Treasury secretary, Larry Summers, who resisted the possible economic benefits of Trump’s tariffs.

“It will probably raise some income at the expense of greater inflation for US consumers, less competitiveness for US producers,” Summers said. “So higher prices, less competitiveness, and not really so many income in relation to what is given to the very rich in this [budget] bill.”

Here are more prominent from Miran and Summers’ interviews:

They look at CBO estimates for Trump’s Megabill

Stephanopoulos: Why should we not believe the CBO when they say that something that approaches a little more than 11 million people will be, will lose their medical care coverage due to Medicaid cuts?

Other: Well, because they were wrong in the past. When the Republicans repealed the penalty of the individual mandate during the Tax and Jobs Cuts Law in the president’s first mandate, CBO predicted that there will be around 5 million people lose their insurance for 2019. And you know what? The number was not changed very significantly at all. It was a small fraction of that. And so, they have been wrong in the past. And look, if we do not approve the – if we do not approve the invoice, 8 to 9 million people would have lost their insurance, as a result of the greatest fiscal act in history that creates a great recession. The best way to ensure that people are insured is to grow the economy, get them job, make them work, get insurance through their employer. Creating jobs, creating a booming economy is always the best way to assure people.

They look at past tax cuts

Stephanopoulos: You say that all this goes to the growth of turboalimentation. We have seen some experience with this back, on the day of Ronald Reagan, in 1981. He had large tax cuts. The growth did not arrive, and they had to end up increasing taxes for several years after that. Worried that that could happen again?

Other: Well, as I said before, you know, the story is on our side. If you observe what happened in the president’s first mandate, the growth shot and there was no real material, you know, a significant long -term decrease in income. Income as a proportion of GDP were 17.1% last year, as was before the Tax Cuts and Jobs Law. Then, you obtained this great increase in growth as a result of the tax and jobs cuts law. There was no long -term material decrease in income. Corporate income even increased as a part of GDP from 1.6 to 1.9%. And the growth delivered. And we hope the same thing happens this time.

Summers in cuts to the security network

Stephanopoulos: In the New York Times this week, you and Robert Rubin, who also served as president, as secretary of the Treasury, described this bill “dangerous”, said “raised a great risk to the economy.” What are those risks?

Summers: George, just to begin with, what his people have been describing is the largest cut in the American security network in history. Yale’s budget laboratory will kill, more than 10 years, 100,000 people. That is 2,000 days of death as we have seen in Texas this weekend. In my 70 years, I have never been so embarrassed for my country on July 4. These higher interest rates, these cuts in electricity subsidies, these reductions in housing availability, the fact that hospitals will have to take care of these people and transmit costs to all others, and that will mean more inflation, the risk of increasing the risk of increasing interest rates and running the risk of recess Recession, more risks, which has the most risk, which has the most risk of risk, which has the most risk of risk, more risk, which has more risk, which has a higher risk of risk, which has more risk of recession, than the risk of recession is more risk, which has more risk, which has more risk, the risk of increasing interest rates and the risk of recess More risk of recession, which has the greatest risk of risk, which has more risks. family in our country for this bill. And for what? One million dollars for 10 years to the tenth of the percentage of our population. Is that the highest use of federal money at this time? It does not seem to me. This is a shameful act of our Congress and our president who will delay our country.

Summers on economic growth claims

Stephanopoulos: Part of the president’s argument is that the economic growth caused by the bill will relieve the dangers you are talking about here. The president of the Council of Economic Advisors has become the following and his council issued a report this week projecting $ 11 billion in reduction of growth deficit, higher tax revenues and savings in debt payments. How do you respond to that?

Summers: It is respectfully nonsense. None of us can forecast what will happen to economic growth. What we can predict is that when people have to maintain government debt instead of being able to invest it in new capital goods, new machinery, new buildings, which makes the economy less productive. What we can predict is that when we are investing less in research and development, investing less in our schools, that there is a negative impact on economic growth. There is no economist anywhere, without a strong political agenda, which says that this bill is positive for the economy. And the overwhelming opinion is that the economy will probably worsen. Think about it in this way. How long can the world’s greatest debtor remain the greatest power in the world? And this is accumulating more debt to the economy than any fiscal legislation in terms of the dollar we have had.