Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: longnshort who wrote (1134474)	5/12/2019 4:38:51 PM
From: sylvester80	Respond to of 1575781

Kudlow acknowledges US will pay for China tariffs, contradicting Trump PUBLISHED 5 HOURS AGO UPDATED 20 MIN AGO cnbc.com 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. 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 517 4:29 PM - May 12, 2019 509 people are talking about this Twitter Ads info and privacy 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.