Hassett's statements during his interview appearance on NBC News' Meet the Press shows that the White House intends to hold steady on its tariffs even as economic data raises concerns about the impact they may have on growth, prices, and job creation as well as lasting consequences for global trade.

Canada minister Dominic LeBlanc expressed optimism that a deal could be reached to reduce the newly imposed 35% US tariffs on Canadian goods outside the USMCA. He hinted at upcoming talks between Prime Minister Mark Carney and President Trump.

U.S. President Donald Trump on Thursday signed an executive order increasing tariffs on Canadian goods to 35% from 25% on all products not covered by the U.S.-Mexico-Canada trade agreement, the White House said.