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Trump's Advisor admits US will also suffer from tariff war with China

ANI  |  US 

The US businesses will also suffer from a recent hike on Chinese goods, a top at the has admitted.

"Both sides will pay...will suffer (economic) losses from reduced exports to the US, not from paying the tariffs," Al Jazeera quoted Larry Kudlow, the of the President's National Economic Council, as saying.

Kudlow's comment is in direct contrast with US Donald Trump's claims.

Trumps has said that trade wars are "easy to win."

Recently, the accused of reneging on prior concessions and confirmed last Friday that tariffs on 200 billion dollars of Chinese imports could increase to 25 per cent from 10 per cent.

There is a possibility that the US could further extend the on Chinese goods to the tune of 325 billion dollars.

war began in early 2018. Major sticking points in trade negotiations include and intellectual property.

Meanwhile, said it still remains "cautiously optimistic" about the future of trade negotiations with the US.

Speaking after the two-day talks in Washington, the of the Chinese said that despite "minor twists and turns" he does not see the negotiations as having been "derailed.

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

First Published: Mon, May 13 2019. 16:06 IST