White House Top Economic Adviser Larry Kudlow Undercuts Trump on Tariffs
President Trump’s top economic adviser admitted on Sunday that American companies and consumers would have to pay for new tariffs on Chinese goods—undercutting the president, who has repeatedly claimed that China would somehow be paying for the new penalties directly.
On Fox News Sunday, anchor Chris Wallace pressed the White House’s Larry Kudlow: “It’s not China that pays the tariffs, it’s the American importers, the American companies that pay what, is in fact, a tax increase.”
“Fair enough,” responded Kudlow, though he insisted “both sides will pay in these things.”