Donald Trump has spent his morning furiously trying to put a positive spin on his China tariffs after his top economic adviser admitted that they will make American companies and consumers suffer. Appearing on Fox NewsSunday, Larry Kudlow admitted to interviewer Chris Wallace that “both sides will suffer” from the deepening trade dispute. But in a string of angry tweets Monday morning, the president told President Xi Jinping that “China will be hurt very badly if you don’t make a deal.” He went on, with typos: “Their is no reason for the U.S. Consumer to pay the Tariffs, which take effect on China today. This has been proven recently when only 4 points were paid by the U.S., 21 points by China because China subsidizes product to such a large degree.” Despite what Trump claims, the tariffs will not be paid by China—their cost will be passed on to the American companies and consumers who buy Chinese goods.
