August 26, 2019 / By mobanmarket
While President Donald Trump made it known from the G-7 summit he wish he had been tough on imposing higher tariffs against China in the escalating trade war, his top economic adviser said negotiations may continue through the 2020 election.
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In an interview on CNN’s “State of the Union,” Larry Kudlow erred on the side of caution in setting a deadline for a deal.
“I can’t make any promises. I don’t want to make any forecasts,” he explained.
"I will repeat, however, that the negotiations between the two great countries continue. And I think it’s always better to talk than not to talk."
He said there were plans in the works for an “imminent announcement” coming, noting Trump’s success in France with his counterparts at the G-7 meetings on the USMCA and a trade deal with Japan. Kudlow expects the USMCA deal to “add between half to one percentage point additional GDP per year.”
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Trump announced late Friday on Twitter he’d raise tariffs against China for employing $75 billion in extra costs on U.S. goods.
The president called out the media from France on Twitter as he met with world leaders, whom he said asked “Mr. President, why does the American media hate your Country so much? Why are they rooting for it to fail?”
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