Baldwin, 19, and 18-year-old James have both attracted attention from England's top divisions this season despite Pools suffering relegation from League One.
However, Hughes is keen to play down any speculation linking the two with a move away from Victoria Park but conceded they will one day play at a much higher level.
"They are a couple of special young players - they have big futures in front of them," he told the Hartlepool Mail.
"It will be their attitude which tears them apart though. To have such an enjoyment and appreciation of what you do is a massive thing, both of them have that.
"But I'm also determined to keep that expectation off them. I want them to go and play their football and I want them to learn by mistakes because, at that age, it's okay to make them."