Left Menu
Development News Edition

UPDATE 1-Trade war will hurt China more than U.S. -top White House economic advisor

Reuters | Washington DC | Updated: 13-06-2019 23:25 IST | Created: 13-06-2019 23:01 IST
UPDATE 1-Trade war will hurt China more than U.S. -top White House economic advisor
Image Credit: Flickr

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.

The United States kicked off a tariff battle with China in 2018, seeking sweeping structural changes from Beijing. But tensions between Washington and Beijing rose sharply in May after the Trump administration accused China of reneging on promises to make structural economic changes during months of trade talks. Trump has said he would decide after G20, the meeting of the leaders of the world's largest economies, whether to carry out a threat to impose tariffs on an additional $300 billion in Chinese goods.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)



China: A savior for emerging markets or a poison pill?

... ...

Future of Urban Planning: Artificial Intelligence guiding the way

Advances in emerging technologies like Artificial Intelligence and Machine Learning can help us understand our cities better and derive useful insights from real-time data collected through automated models....


Latest News

Lawmakers threatened ahead of impeachment trial

Federal law enforcement officials are examining a number of threats aimed at members of Congress as the second trial of former President Donald Trump nears, including ominous chatter about killing legislators or attacking them outside of th...

Iraq reports 893 new COVID-19 cases, 613,763 in total

Baghdad Iraq, January 25 ANIXinhua The Iraqi Health Ministry reported on Sunday 893 new COVID-19 cases, bringing the total nationwide number to 613,763. The ministry also reported five new deaths, raising the death toll from the infectious ...

Morocco reports 520 COVID-19 cases, 466,289 in total

Rabat Morocco, January 25 ANIXinhua Morocco on Sunday reported 520 new COVID-19 cases, taking the number of infections in the country to 466,289. The total number of recoveries from COVID-19 in Morocco hit 442,441 after 748 new ones were ad...

Nara Lokesh decries 'rape cases' filed against student agitators

TDP National General Secretary and former Minister Nara Lokesh has condemned the manner in which the police tried to file false rape cases against the student activists of Telugu Nadu Students Federation TNSF just for trying to protest at t...

Give Feedback