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:

Chris talks to @larry_kudlow about who actually pays the tariffs with China if they were to be imposed #FNS pic.twitter.com/cwl89OyLDK

— FoxNewsSunday (@FoxNewsSunday) May 12, 2019

-RW