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Trump Economic Adviser Warns More U.S. Companies Will Suffer in China Trade War

Posted January 04, 2019

Under Economic Issues, International Trade Issues

(Caroline Kelly – CNN)

A top economic adviser to President Donald Trump acknowledged Thursday that the trade war is damaging US businesses with interests in China.

The day after tech giant Apple announced that it had missed its revenue targets thanks to falling demand in China, White House Council of Economic Advisers chairman Kevin Hassett said in an interview with CNN’s Poppy Harlow that “a heck of a lot” of US companies will have the same problem unless a deal is struck to lift tariffs.

“It’s not going to be just Apple,” Hassett said. “I think that there are a heck of a lot of US companies that have a lot of sales in China that are basically going to be watching their earnings be downgraded next year until we get a deal with China.” Click here to read more.