White House Economic Adviser: China Will Lose the AI Battle if Blocked from Nvidia Chips
US Economic Council Director Kevin Hassett said Thursday that inflation has dropped sharply while economic growth remains strong, during an appearance on Fox Business.
Hassett addressed concerns about tariffs, stating they only cause a “one-off price adjustment” and advised against worrying about their long-term effects on prices. He suggested that a “supply-side boom can lead to growth without inflation.”
On U.S.-China relations, Hassett noted that Treasury Secretary Scott Bessent is “practically talking to China every day.” He added that China would “lose the AI battle if blocked from Nvidia chips.” On domestic policy, he emphasized that U.S. stakes in certain companies are linked to national security concerns and highlighted that investments in artificial intelligence are “creating real income.”
