Monday, October 14, 2019
News

Trump's Advisor admits US will also suffer from tariff war with China

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

US | May 13, 2019 4:41:53 PM IST
The US businesses will also suffer from a recent tariff hike on Chinese goods, a top economic advisor at the White House has admitted.

"Both sides will pay...China will suffer (economic) losses from reduced exports to the US, not from paying the tariffs," Al Jazeera quoted Larry Kudlow, the head of the President's National Economic Council, as saying.

Kudlow's comment is in direct contrast with US President Donald Trump's claims.

Trumps has said that trade wars are "easy to win."

Recently, the United States accused China of reneging on prior concessions and confirmed last Friday that tariffs on 200 billion dollars of Chinese imports could increase to 25 per cent from 10 per cent.

There is a possibility that the US could further extend the tariff on Chinese goods to the tune of 325 billion dollars.

Tariff war began in early 2018. Major sticking points in trade negotiations include technology transfer and intellectual property.

Meanwhile, Beijing said it still remains "cautiously optimistic" about the future of trade negotiations with the US.

Speaking after the two-day talks in Washington, the head of the Chinese delegation Vice Premier Liu He said that despite "minor twists and turns" he does not see the negotiations as having been "derailed." (ANI)

 
  LATEST COMMENTS ()
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE WORLD NEWS
Extradition of Dawood's key aide to Pak ...
Merkel asks Turkey to end military offen...
Kurdish administration announces agreeme...
Dozens of high-value IS detainees left b...
Ecuador: Seven dead, more than 1000 inju...
Xi pledges enhanced cooperation between ...
More...
 
INDIA WORLD ASIA
Building Ram temple will be triumph for ...
'Nirbhaya's friend took money from chann...
UP: Five detained for thrashing man, cho...
Jamaat-e-Islami Hind voices concerns aft...
Arrested former MD of PMC bank used anot...
Delhi: 15-year-old girl dies allegedly d...
More...    
 
 Top Stories
HAL braces for staff strike over wa... 
'Nirbhaya's friend took money from ... 
Kerala fails to get medics from res... 
UP: Five detained for thrashing man... 
New Delhi: Crime Branch arrests thr... 
Ecuador: Seven dead, more than 1000... 
BCCI polls: Ganguly likely to be ch... 
Anshuman Gaekwad to represent ICA i...