White House top economic advisor says trade war will hurt China more than U.S.

The economic burden of a trade war between the world's two largest economies will shift to China, rather than the United States, President Donald Trump's top economic advisor said on Thursday.

"The overall economic burden will hurt China more than it hurts us," said Larry Kudlow, director of the White House's National Economic Council.

The White House intends for President Donald Trump to meet with Chinese President Xi Jinping at the G20 summit in Japan later this month, though the meeting is not "formalized" yet, Kudlow said.

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