President Trump’s economic advisor supports new China tariffs
White House economic adviser Larry Kudlow on Friday endorses President Donald J. Trump's decision to apply a new tariff of 10 percent on about $300 billion dollars worth of products from China at the start of September.
Kudlow says the U.S. trade reform policy aims not only for “free, fair, and reciprocal trade.” It is to "help all sectors of the American economy where there has been economic harm done as a consequence of unlawful trading practices by China and other countries," continued Kudlow.
Kudlow, who is the director of the National Economic Council, says the president is not satisfied with the progress of trade talks with China.
[Larry Kudlow, Director of National Economic Council]:
“The president was not satisfied with the progress of the talks. And he indicated in good faith, a very respectful note to President Xi. But we hope to continue the talks in September. We hope their team comes here.”
China threatens to retaliate. But Kudlow says the impact on the U.S. will be marginal. Whereas the impact of the trade tariffs on China will be far greater, said Kudlow.