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Larry Kudlow: China Trade Deal Shows 'Real Change of Heart' by Trump

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By Todd Beamon   |   Friday, 12 May 2017 09:07 PM

Radio talk-show host Larry Kudlow told Newsmax TV on Friday that the U.S. trade deal announced with China represented "a real change of heart from the campaign" rhetoric of President Donald Trump.

"Rather than 'high noon' confrontational drama, which is kind of what we heard in the campaign on China or anybody else, what you're seeing is cooperation and renegotiation in a joint manner," Kudlow, former economic adviser to President Ronald Reagan, told host Steve Malzberg on "Facebook Live" in an interview. "This is great."

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"Commercially, this is a big step forward," he said, adding that "we're getting negotiations" instead of "big protectionist fears."

"We got through the currency manipulation — and the numbers showed it wasn't true — and now we're expanding the export markets," Kudlow said. "That's a concession from China.

"It's a good-faith act by the United States.

"Both the economies would be helped — and we would create more jobs. Exports create more jobs in this country, in the USA.

"This is a very good thing."

Kudlow, who is also a CNBC senior contributor, added that if the Republicans do not pass tax-reform legislation soon, they "may be in grave danger in the 2018 midterms.

"You've got to pass a bill," he explained. "The bill will specify the rules, the marginal tax rates, the expensing, the small businesses and all the rest of that.

"You got to give the economy time to digest it.

"If too much time lapses and you can't get the bill through — I would say until the late winter of 2018, and that would give the economy a good six months or so to start picking up.

"If that's not done and the economy doesn't show a major pick up, the GOP is in trouble in 2018."

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Radio talk-show host Larry Kudlow told Newsmax TV on Friday that the U.S. trade deal announced with China represented "a real change of heart from the campaign" rhetoric of President Donald Trump.
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