Tags: kudlow | trade | talks | tariffs | war

Kudlow: Trade Spats Like 'a Family Disagreement'

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By    |   Friday, 01 June 2018 11:53 AM

President Donald Trump's chief economic adviser is trying to calm global fears of a trade war after President Donald Trump's tariffs on U.S. allies.

"It's not a trade war. We can fix this, but we're going to need the help of our friends," Larry Kudlow, director of the White House's National Economic Council, told CNBC.

"This is something of a family disagreement," said Kudlow, who served as the Trump campaign's senior economic adviser.

For his part, Trump told Canada and the European Union on Friday to do more to bring down their trade surpluses, a day after hitting the two U.S. allies and Mexico with import tariffs on their steel and aluminium, Reuters reported.

Trump castigated Canada in a tweet on Friday morning, saying it had treated U.S. farmers "very poorly for a very long period of time".

"Highly restrictive on Trade! They must open their markets and take down their trade barriers! They report a really high surplus on trade with us," he wrote.

Trump also told French President Emmanuel Macron of the need to "rebalance trade with Europe," the White House said.

His strong words followed swift responses to his tariffs by Canada, Mexico and the European Union, which all plan to retaliate with levies on billions of dollars of U.S. goods from orange juice and whiskey to blue jeans and Harley-Davidsons.

Meanwhile, the veteran financial guru and former Ronald Reagan adviser, who said he believes that the U.S. economy has "entered into the longest prosperity in a couple of decades," urged European leaders to embrace Trump-like policies to wake-up their economies, CNBC.com explained.

“You do not want to give Jeff Bezos a seven-year head start,”  said Kudlow, who worked as Reagan’s budget deputy between 1981 and 1985.

"If they do, they will come out of their doldrums and they'll get the kind of capital investment and business investment that generates prosperity for jobs and wages," said Kudlow.

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Economy
President Donald Trump's chief economic adviser is trying to calm global fears of a trade war after President Donald Trump's tariffs on U.S. allies.
kudlow, trade, talks, tariffs, war
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2018-53-01
Friday, 01 June 2018 11:53 AM
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