FLASH: President Trump declared the US is “winning” the trade war a day after reaching a truce with Chinese President Xi.
On a visit to SKorea following the G-20 Summit in Japan, President Trump said at a news conference that the Federal Reserve “has not been of help to us at all” in his trade dispute with Beijing.
“Despite that, we are winning, and we are winning big because we have created an economy that is second to none,” he said.
Sunday, President Trump’s National Economic Council Director Larry Kudlow said on TV that trade talks with China will resume at their toughest point and “go on for quite some time.”
In the TV interview on Mr. Kudlow said the renewed trade negotiations, which he said were about 90% completed when they broke off in May.
“The last 10% could be the toughest and there’s no guarantees that the deal will go through, and President Trump is not in a hurry,” Mr. Kudlow said.
“The 2 teams will be getting together, tariffs will not be raised, no lifting of tariffs on the remaining $325-B, that’s an important concession by President Trump and we also expect the Chinese… to begin large-scale purchases, imports of the US agriculture products and services.”
“The rest of it is going to go on for quite some time, frankly,” he added.
Mr. Kudlow also blasted Democrats for questioning the strength of the economy in their emphasis on income inequality in the country.
“Some of these early debates in my judgment would do great, great damage to this prosperity and jobs and income and wage cycle that we are experiencing,” he said. “Somebody has got to do a little bit of fact-checking here on what some of these candidates are saying. I would simply say the economy is strong, the narrative I am hearing from the other side just ain’t so.”