Kudlow: Trade Deals In Works 'Outweigh' Trade War With China

26 Août, 2019, 01:53 | Auteur: Auguste Feret

President Trump's top economic adviser says China is bearing the brunt of the escalating trade dispute with the US, dismissing fears that reciprocal protectionist policies between the two economic giants will harm the American economy and precipitate a potential recession.

In an interview on CNN's "State of the Union", Larry Kudlow erred on the side of caution in setting a deadline for a deal.

"I can't make any promises. I don't want to make any forecasts", he explained. "I will repeat, however, that the negotiations between the two great countries continue".

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"The economic burden of these tariffs is falling most heavily on China, probably by a factor of 4 to 1 or 5 to 1", Larry Kudlow, the director of the White House's National Economic Council, said on "Face the Nation" Sunday. What he is suggesting to American businesses and it is something he has said to many companies in many different forms and on many different occasions, I ought to think about to the companies - you ought to think about moving your operations and your supply chains away from China and secondly, we would like to you come back home.

President Trump announced via Twitter on Friday that the US would be retaliating against $75 billion worth of tariffs imposed by China by raising rates on hundreds of billions of dollars worth of Chinese goods. "Why are they rooting for it to fail?"

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