Kudlow says US will pay for China tariffs, contradicting Trump
Kudlow acknowledged that "both sides will suffer on this," but argued that China will suffer significant GDP losses as export markets are hit. The blow to U.S. GDP, on the other hand, won't be substantial since the economy is "in terrific shape," he said.
"This is a risk we should and can take without damaging our economy in any appreciable way," Kudlow told Fox News' Chris Wallace.White House economic adviser Larry Kudlow on Sunday acknowledged that the Chinese do not directly pay tariffs on goods coming into the U.S., contradicting President Donald Trump's claims that China will pay for tariffs imposed by the U.S.
Kudlow said that "both sides will suffer on this," but argued that China will suffer significant GDP losses as export markets are hit. The blow to U.S. GDP, on the other hand, won't be substantial since the economy is "in terrific shape," he said."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.
"This is a risk we should and can take without damaging our economy in any appreciable way," Kudlow said. The most recent round of trade talks, which ended on Friday with no final agreement, followed Trump's decision to more than double tariffs on $200 billion of Chinese goods.at the June G-20 summit in Japan.
इंडिया ताज़ा खबर, इंडिया मुख्य बातें
Similar News:आप इससे मिलती-जुलती खबरें भी पढ़ सकते हैं जिन्हें हमने अन्य समाचार स्रोतों से एकत्र किया है।
As Trump fights with China over trade, U.S.-China economic relationship already being redefinedThe trend of U.S. companies serving Chinese consumers with products made in China could pose a significant challenge to Trump’s “America First” agenda
और पढो »
Kudlow says he expects China to retaliate against US over tariffsKudlow, however, said there are 'no concrete, definite plans' yet for continued trade talks.
और पढो »
Kudlow: ‘Both sides will suffer’ in U.S.-China trade warThe Trump administration will seek additional financial aid for farmers stung by the U.S.-China trade war, a top White House official said Sunday
और पढो »
US tariffs on China jump as deadline passes, China immediately says it will retaliateThe Trump administration is hiking duties on $200 billion worth of Chinese products to 25% from 10%.
और पढो »
US Navy destroyers sail near disputed islands claimed by China in South China SeaTwo U.S. guided missile destroyers sailed near disputed islands claimed by China in the South China Sea on Monday, the U.S. Navy says in a statement.
और पढो »
Cramer Remix: China needs us more than we need ChinaJim Cramer explains how the United States has the upper hand in trade negotiations with our stronger, cash fueled economy.
और पढो »
Trump threatens higher U.S. tariffs on China - Reuters TVU.S. President Donald Trump on Sunday dramatically increased pressure on China to reach a long-sought trade deal by announcing he will markedly increase U.S. tariffs on certain Chinese goods.
और पढो »
In abrupt turn, Trump vows higher U.S. tariffs on China goodsU.S. President Donald Trump on Sunday dramatically increased pressure on China to reach a long-sought trade deal by announcing he will markedly increase U.S. tariffs on certain Chinese goods. Trump had previously delayed the tariff increases earlier in the year, citing productive talks with China.
और पढो »
China may withdraw from this week's trade talks with U.S. after Trump threats: reportChina may pull out of trade talks scheduled for this week in Washington after President Donald Trump said he would raise tariffs on $200 billion in Chinese...
और पढो »
US stock futures tumble after Trump administration says China reneged on trade dealThe Trump administration is taking stocks on a roller coaster ride. Investors are not pleased.
और पढो »
If Trump slaps China with his threatened tariffs, the US consumer could payAnalysts say if Trump follows through, U.S. consumers will be the ones to pick up the tab on apparel, shoes, toys and electronics.
और पढो »