Gary Cohn: Trump's trade war with China is hurting the US more
Cohn adds that the trade war is a convenient excuse for Beijing as China's economy was slowing anyway.
The former director of the United States National Economic Council announced he was resigning from public service in April 2018 after Trump decided to impose import tariffs on steel and aluminium. "I think the Chinese economy was going to slow down with or without a trade war," Mr Cohn said before adding it was having "a real impact" in parts of the U.S. economy such as automobile manufacturing and farming.Trump has been placing public pressure on the U.S. Federal Reserve to cut rates a steeper clip than the quarter point reduction announced Wednesday.
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