Thread: Kudlow acknowledges US will pay for China tariffs, contradicting Trump

Kudlow acknowledges US will pay for China tariffs, contradicting Trump

PUBLISHED 3 HOURS AGO UPDATED 2 HOURS AGO
Emma Newburger@EMMA_NEWBURGER

KEY POINTS

• 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.

Larry Kudlow, Director of the United States National Economic Council.
Adam Jeffery | CNBC


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.


Fox News’ Chris Wallace pressed Kudlow about Trump’s claims.

“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.”

“Fair enough,” Kudlow replied. “In fact, both sides will pay. Both sides will pay in these things.”

Kudlow added, however, that China doesn’t actually pay the tariffs, but that their GDP will suffer “with respect to a diminishing export market.”

“This is a risk we should and can take without damaging our economy in any appreciable way,” Kudlow said.

FoxNewsSunday

✔@FoxNewsSunday

Chris talks to @larry_kudlow about who actually pays the tariffs with China if they were to be imposed #FNS

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6:29 AM - May 12, 2019

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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.

Trump said on Saturday that China should “act now” to wrap up a trade deal with the U.S, warning that “far worse” terms would be offered to them in what he predicted would be his second term as president.

Trump also suggested that the U.S. was “collecting” big tariffs from China.

“Would be wise for them to act now, but love collecting BIG TARIFFS!” he tweeted.

Kudlow said that Trump will likely meet with Chinese President Xi Jinping at the June G-20 summit in Japan.

https://www.cnbc.com/2019/05/12/kudl...ing-trump.html

WHY are we importing PET FOOD from China????? That garbage is probably filled with Dog and Cat meat and who knows what else????? I'm A-OK with a 25% tariff on that garbage!!!!!

OPEN OUR OWN BUSINESSES AND IT ALSO SAVES THE FUEL TO SHIP CHINA GARBAGE TO OUR COUNTRY!

NOT ONLY THAT THEY SHIP THEIR FENTANYL ALONG WITH THEIR GARBAGE PRODUCTS!

NO FOREIGN WORK VISAS!

EMPLOY AMERICANS!

WHY ISN'T MEXICO OPENING THESE BUSINESSES AND EMPLOYING THEIR OWN PEOPLE!

GET OFF YOUR LAZY, CORRUPT, REAR ENDS AND CREATE YOUR OWN BUSINESES IN YOUR COUNTRY!

WE SHOULD NOT HAVE TO SHIP A LOT OF THIS STUFF FROM CHINA!

25 MILLION OF THEIR WORKERS NEED TO BE DEPORTED OFF OUR SOIL!

Dow plunges 600 points as China hits U.S. with $60B in tariffs in response to Trump

Wall Street took a dive on Monday, with the Dow falling almost 600 points in response to a ratcheting up of trade tensions between China and the U.S..
NBCNews.com2 hours ago

Dow plunges 700 points after China retaliates with higher tariffs

New York (CNN Business) The Dow plunged Monday after China said it will raise tariffs in retaliation to last week's tariff increase by the United States.
CNN44 minutes ago

Originally Posted by Beezer

OPEN OUR OWN BUSINESSES AND IT ALSO SAVES THE FUEL TO SHIP CHINA GARBAGE TO OUR COUNTRY!

I have a friend who was a trucker for 45+ years.

He would tell stories about

hauling Florida oranges to California

unload and reload for return trip---you guessed it

California oranges to Florida

A lot of these low paying manufacturing jobs could be MOVED from China to Southern Mexico, Guatemala, Honduras, El Salvador.

Shipping costs would be cheaper too.

They can make the dog food and make clothes, etc.

Send the illegals and DACA BACK to go work those jobs and create growth and prosperity there.

Many of these DACA are nurses, etc...send 'em back!

THAT IS A DEAL TRUMP SHOULD BROKER!

NO AMNESTY AND NO PATH TO STAY.

LET HOLLYWOOD PUT THEIR MONEY WHERE THEIR MOUTH IS AND GO OPEN RESTAURANTS, GOLF COURSES, CONDOS, RV RESORTS AND EMPLOY THEM THERE.

WHAT IS THE DIFFERENCE BETWEEN A CALIFORNIA ORANGE AND A FLORIDA ORANGE?

Is there a difference at all? A navel orange from Florida has to be the same as a navel from California. Right? Well, even though many of the fruits are genetically identical, the climate changes the fruit far more than you’d expect.

California Oranges: California’s climate is very arid with very low yearly rainfall. The days are hot and sunny, and the nights are dry and cool. This weather is ideal for raising oranges with thick, beautiful peels. The dry air keeps superficial blemishes from forming on the peels, making them attractive to supermarket shoppers. Having a thicker peel also aids in keeping them fresh for extended periods. They are ideal for brick and mortar stores, because they last much longer on store shelves.

Florida Oranges: The oranges that grow in Florida do so in a hotter, wetter climate. As a result, these oranges are much juicier and sweeter. In fact, the majority of Florida’s oranges are used for juicing. The peels are usually thinner, and the oranges are easier to eat out of hand. This makes whole Florida oranges ideal for direct shipping rather than supermarket sales. Since our oranges are shipped straight from the grove to your door, there’s plenty of time to enjoy them. Florida oranges typically last 2-3 weeks when refrigerated.

https://www.mixon.com/gift-fruit-que...florida-orange