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Sun May 12, 2019, 06:41 PM

White House Economic Adviser Kudlow Acknowledges US Will Pay For China Tariffs, Contradicting Trump

Published Sun, May 12 2019 11:26 AM EDTUpdated 2 hours ago

Key Points

•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.

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.”


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https://www.cnbc.com/2019/05/12/kudlow-says-us-will-pay-for-china-tariffs-contradicting-trump.html

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Reply White House Economic Adviser Kudlow Acknowledges US Will Pay For China Tariffs, Contradicting Trump (Original post)
RCW2014 May 12 OP
drunk_teddy May 12 #1
Paradigm May 12 #2
RCW2014 May 12 #3
Independent.mind May 13 #4
Dumper May 13 #5
Independent.mind May 13 #6

Response to RCW2014 (Original post)

Sun May 12, 2019, 07:15 PM

1. The lunch specials @ Ching Chang Palace

Recently went from $5.25 to $5.50.. not sure if its tariff related...

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Response to RCW2014 (Original post)

Sun May 12, 2019, 08:25 PM

2. NBC. Lol.

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Response to Paradigm (Reply #2)

Sun May 12, 2019, 08:29 PM

3. LOL, Larry's statements on his own accord...

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Response to Paradigm (Reply #2)

Mon May 13, 2019, 08:02 AM

4. Actually he made the statement on Fox News

“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.”

Pressed again by Wallace, Kudlow acknowledged that China does not actually “pay” the tariffs.

“No, but the Chinese will suffer GDP losses and so forth with respect to a diminishing export market,” he said.


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Response to Independent.mind (Reply #4)

Mon May 13, 2019, 08:13 AM

5. The key word being "oftentimes." Savings cut down on purchases too!

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Response to Dumper (Reply #5)

Mon May 13, 2019, 08:19 AM

6. Just saying lets not pretend this isn't a tax on US companies and consumers

That is exactly what it is.

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