Reuters: Trump Economic Adviser Says U.S. Wants Serious Trade Talks With China
The United States is ready to negotiate a trade deal with China whenever Beijing is prepared for serious talks that will reduce tariffs and eliminate non-tariff trade barriers, top White House economic adviser Larry Kudlow said on Monday. Kudlow, speaking at the Economic Club of New York, also said China’s economic reforms were moving in the wrong direction and that he expected the United States would soon announce tariffs on an additional $200 billion worth of Chinese goods.
: Remember When Republicans Called the Deficit ‘Immoral’?
When the Congressional Budget Office in April estimated the drastic effect the tax overhaul would have on the deficit, Corker said at a Senate Budget Committee that if “it ends up costing what has been laid out here, it could well be one of the worst votes I’ve made.” Whoops!
But others have chosen to key in on the “wasteful spending” part of Mnuchin’s statement about the inflated deficit as a way of justifying tax reform. Last month, National Economic Council Director Larry Kudlow said that while “people are quick to blame deficits on tax cuts,” he’s not worried. “If you grow rapidly you’re going to have lesser deficits. Growth solves a lot of problems,” he said during a speech at the Economic Club of New York. “The gap is principally spending too much.”
Wall Street Journal
: Trump Adviser Kudlow Blames Deficits on Spending, Not Tax Cuts
A top economic adviser to President Trump said Monday the U.S. is ready to engage in serious trade talks with China, in comments that also shrugged off massive U.S. government budget deficits as largely a function of too much government spending and not tax cuts. “The trade system around the world has been broken” and “China is the biggest culprit” for the current troubles, Lawrence Kudlow, head of the White House National Economic Council, told a gathering of the Economic Club of New York.
A top economic adviser to President Donald Trump said on Monday he expects U.S. budget deficits of about 4 percent to 5 percent of the country's economic output for the next one to two years, adding that there would likely be an effort in 2019 to cut spending on entitlement programs. "We have to be tougher on spending," White House economic adviser Larry Kudlow said in remarks to the Economic Club of New York, adding that government spending was the reason for the wider budget deficits, not the Republican-led tax cuts activated this year. Kudlow did not specify where future cuts would be made.