The private sector is more than capable of addressing the risks posed by rapidly advancing artificial intelligence, National Economic Council Director Kevin Hassett told CNBC on Tuesday.

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“I think these are completely solvable problems,” Hassett said on “Squawk Box.”

The comments came one day after President Donald Trump went on a social media rampage against AI industry leaders and others who have raised alarms about their own nascent technology.

Those fears are a “hoax,” insisted Trump, whose AI-friendly administration argues U.S. dominance over China in the fast-expanding industry is essential.

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Hassett told CNBC that the government already plays a role that should not be enlarged, a role an increasing number of industry officials and Congress members are calling for.

“These are solvable problems, and the private sector is the right place to solve them,” he said. “And it doesn’t mean the government is asleep at the wheel. Not at all. It’s watching closely, using law enforcement when necessary to make sure that the firms are acting responsibly.”

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