Kudlow: The Burden Of Tariffs “Falls Heavily On China”

CBS News reports:

President Trump’s top economic adviser says China is bearing the brunt of the escalating trade dispute with the U.S., dismissing fears that reciprocal protectionist policies between the two economic giants will harm the American economy and precipitate a potential recession.

“The economic burden of these tariffs is falling most heavily on China, probably by a factor of 4 to 1 or 5 to 1,” Larry Kudlow, the director of the White House’s National Economic Council, said on “Face the Nation” Sunday. “The burden of this thing is falling way on China.”

But Kudlow on Sunday reiterated that the president is simply defending American interests. He suggested that fears about an economic downturn as a result of the dispute with Beijing are overblown, saying the administration is not worried about a recession. “I just want to disabuse so much of this recession talk out there. It just ain’t so,” he added.