White House chief economic adviser undercut President ’s claim that China will pay for tariffs imposed by the administration on goods entering the U.S., admitting that Americans will end up footing the bill.
In an interview with ’ Chris Wallace, Kudlow, who serves as the head of the National Economic Council, was pressed on the validity of the president’s assertion.
“It’s not China that pays tariffs,” Wallace said. “It’s the American importers, the American companies that pay what in effect is a tax increase and oftentimes passes it on to U.S. consumers.”
“Fair enough,” Kudlow conceded. “In fact, both sides will pay.”
Doubling down on his fact check, Wallace again stressed that a tariff on goods