Kudlow contradicts Trump on critical aspect of China trade war
‘In fact, both sides will pay. Both sides will pay in these things.’ That’s White House economic adviser Larry Kudlow on Sunday offering a “both sides” take in an interview on Fox News.
Trump, who has argued that trade wars are “good and easy to win,” suggested on Saturday that the U.S. was “collecting” tariffs from China: — Donald J. Trump May 11, 2019 Kudlow initially explained that China will suffer significant GDP losses as export markets are hit, while the impact to U.S. growth will be relatively insignificant, thanks to the “terrific” Trump economy.“It’s not China that pays tariffs,” Wallace said. “It’s the American importers, the American companies that pay what, in effect, is a tax increase and oftentimes passes it on to U.S. consumers.
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