(Robert Schroeder – MarketWatch)
U.S. stocks were deep in the red Wednesday after China retaliated against the Trump administration’s proposed penalties on Chinese goods, but one of the president’s top advisers is telling markets “don’t overreact.”
Larry Kudlow, who took over as the head of the National Economic Council this week, told Fox Business he understood market anxiety about the trade conflict. “I get that,” he said.
But he said he thought there would be better economic growth, more trade, and “improved wages for both sides” — what he described as a “pot of gold.” He described the Trump administration’s aim as ultimately getting rid of trade barriers. “Any time you lower barriers,” he said, “it’s good for growth.” He added, “it’s good for American growth and American workers. It’s good for China’s growth. It’s good for the rest of the world’s growth.” Click here to read more.
- Here’s Who Pays the Price for Brewing U.S.-China Trade War (PBS News)
- Trump Tariffs Target Key Ingredients for Dozens of Drugs (Bloomberg)
- Economist: Trump Trade War Will Cost 190,000 Jobs (Axios)
- Larry Kudlow Stepping Seamlessly Into Gary Cohn’s Old Gig of Pretending Donald Trump Isn’t Actually Donald Trump (Dealbreaker)