Sunday, May 12, 2019

Chris Wallace Presses Trump's Top Adviser: Gets Him to Admit US Consumers Will Pay Part of the Cost of Tariffs

Larry Kudlow
As a result of intense questioning by Fox News’ Chris Wallace on Sunday morning, President Trump's top economic adviser, Larry Kudlow, a guest on Fox, admitted that the Chinese do not directly pay tariffs on goods coming into the U.S.

Wallace pressed:

It's not China that pays tariffs. It’s the American importers, the American companies that pay what, in effect, is a tax increase and oftentimes passes it on to U.S. consumers.
Kudlow responded:
Fair enough. In fact, both sides will pay. Both sides will pay in these things.
This is along the lines of what I explained here and direct contradiction to President Trump's claim that the Chinese are paying the tariffs.

Here is Wallace and Kudlow:


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