Kevin Hassett laughs as CBS' Margaret Brennan claims Iran can harm US economy via oil flows

WASHINGTON,DC: Trump's economic adviser Kevin Hassett burst into laughter during a television interview on Sunday, March 15, after CBS News anchor Margaret Brennan suggested that Iran might be able to pressure the United States economically through negotiations involving oil shipments passing through the Strait of Hormuz.

The moment came as Brennan pressed Hassett about comments from Iran’s leadership suggesting that other countries had approached Tehran about negotiating access through the strategic waterway, a critical route for global oil shipments.

Kevin Hassett laughs at Margaret Brennan's concern

“You just heard Iran’s foreign minister saying Tehran has been approached by other countries about negotiating their way through the strait,” Brennan said during the exchange.

She then asked whether such negotiations could sideline the United States economically.

“If that kind of negotiation happens, are Americans just going to get cut out here?” Brennan asked.

Hassett immediately dismissed the premise of the question, laughing before launching into a blunt rebuttal.

“Well, first of all, you have to understand that America is not going to have its economy harmed by what the Iranians are doing,” Hassett said before laughing.

He argued that the United States’ position in the global energy market is far stronger today than it was during earlier geopolitical crises.

“The bottom line is that in the ’70s we didn’t produce much oil, but now we do,” he said.

According to Hassett, that domestic production means Iran’s ability to influence the American economy through oil markets is limited.

“They think that they’re going to harm the US economy and get President Trump to back down,” he said. “There couldn’t be anything that was a stupider thing to say.”

Hassett emphasized that the US economy currently benefits from strong energy output and broad global trade ties.

“Our economy has got all this momentum in the world and we have lots and lots of oil,” he said.

He also argued that other nations, particularly those dependent on imported oil from the Middle East would face greater consequences if tensions around the strait escalate.

“We have lots of trading partners that are more on the hook for imported oil from these guys,” Hassett said.

Kevin Hassett ensures quick response

Hassett concluded by criticizing the Iranian government and defending the administration’s response to the situation.

He said it was unacceptable for Tehran to attempt to use control over shipping routes as leverage over other countries.

“It’s completely unacceptable that a government that would kill 40,000 of their people just a few months ago would be blackmailing countries to let stuff through,” Hassett said.

He added that President Donald Trump believes the situation must be addressed swiftly.

“President Trump thinks that is unacceptable,” Hassett said. “And for the global economy we need to fix it and we’re going to fix it fast.”