Industry And Cluster | News & Insights

Trump downplays effect of trade war

Published: August 7, 2019

US President Donald Trump has dismissed concerns about the trade war with China, while his top economic aide said that Trump was committed to negotiations with Beijing after labelling the country a currency manipulator, reported the Financial Times.

“Massive amounts of money from China and other parts of the world is pouring into the United States for reasons of safety, investment, and interest rates! We are in a very strong position,” tweeted Trump on Tuesday.

Larry Kudlow, the top White House economic adviser, told CNBC on Tuesday that the Trump administration wanted to continue talks with China and suggested that the president could adopt a flexible approach on tariffs. Trump on Friday said he would impose tariffs on another $300 billion in Chinese products from September 1.

“The reality is we would like to negotiate,” Kudlow told CNBC. “We’re planning for the Chinese team to come here in September. Things could change with respect to the tariffs.”


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