Trump aide Kudlow acknowledges U.S. consumers pay for tariffs, not China
Trump aide Kudlow acknowledges U.S. consumers pay for tariffs, not China
"Both sides will suffer on this," Kudlow said.
By Allan Smith and Associated Press
White House economic adviser Larry Kudlow contradicted President Donald Trump on Sunday by acknowledging that U.S. consumers end up paying for the administration's tariffs on Chinese goods.
During an interview with "Fox News Sunday," Kudlow, who is the director of the National Economic Council, was pressed by anchor Chris Wallace about Trump's repeated, inaccurate claim that China itself pays for the tariffs.
"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."
READ MORE: https://www.nbcnews.com/politics/donald-tr...
"Both sides will suffer on this," Kudlow said.
By Allan Smith and Associated Press
White House economic adviser Larry Kudlow contradicted President Donald Trump on Sunday by acknowledging that U.S. consumers end up paying for the administration's tariffs on Chinese goods.
During an interview with "Fox News Sunday," Kudlow, who is the director of the National Economic Council, was pressed by anchor Chris Wallace about Trump's repeated, inaccurate claim that China itself pays for the tariffs.
"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."
READ MORE: https://www.nbcnews.com/politics/donald-tr...
