Kudlow Explains Optimism for Trade Deals Ahead of G-20 Summit: ‘China Is Going to Wind Up Paying’

White House Economic Council Director Larry Kudlow is optimistic that President Donald Trump will be able to finalize a trade deal with China at the upcoming G-20 summit.

Next week, Trump is set to have an “extended meeting” with Chinese President Xi Jinping to consider trade negotiations between the two countries. The president and his team have been working to level the playing field between the U.S. and China when it comes to economic dealings.

China is known for subsidizing its industries and stealing U.S. intellectual property, leaving the Trump administration to implement tariffs rather than free trade because it claims there cannot be free trade without fair trade.

While these negotiations have been ongoing, some Americans have felt uncertain, as tariffs and countertariffs from other countries have started to wreak havoc for U.S. industries such as agriculture. Recent polls from Fox News show that Americans are concerned about the impact of tariffs on the economy.

During an interview on Fox News, Kudlow explained that he believes China “will pay” for the brunt of the tariffs. He says he’s optimistic that Trump will arrive at a deal that creates a “level playing field.”

Watch Kudlow’s comments:

“Any impact on American consumers will be very, very limited and de minimis — point number one. Point number two: China is, in fact — in economic terms, China is going to wind up paying for a good chunk of these tariffs, whether production moves to the U.S., or whether Chinese companies have to slash prices and hurt their own the profits and bottom line. So I think this is well worth it, the president’s policy. We’ve got to have fair — right, we’ve got to have fair, level playing field, reciprocal trade with China. So let’s stay the course.”

Kudlow noted that the Dow was up on Tuesday following Trump’s G-20 meeting announcement and that, overall, the economy is strong.

“We are in good shape,” Kudlow noted.

What do you think?

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Don Ohannes
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Don Ohannes

At this point my only concern is that we have lost our middle class.

Don Ohannes
Investment Director
Allstate Insurance Company (Retired)
dohan317@aol.com

Otis
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Otis

The Chinese can play Mah-Jong and run their fingers off on the abacus, because we can eat their lunch if need be.
I am glad to have a POTUS who is willing to kick their butts.

Phyllis Softa
Member

Remember when CNBC viewers perceived Larry Kudlow believed what he was saying? Times have changed.

Screwtape
Member

In a world with truly free trade there wouldn’t be tariffs. Yet the US has suffered tariffs on exports to our “trading” partners and others, despite “favored” status. q.v. India, or one-sided mercantilism as practiced by China.

What’s more fair than applying tariffs commensurate with those applied on our products? If all agree to remove tariffs then that would be fair.

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