White House economic adviser Larry Kudlow said Friday that U.S. CEOs like Apple’s Tim Cook could and should help the Trump administration to press its trade policy agenda with China.
“Mr. Cook should help us get these trade reforms … Cook can help us by talking to the Chinese,” Kudlow said in an appearance Fox Business Friday, adding that other corporate leaders that do in business in China should do the same. He suggested that CEOs in contact with leaders in Beijing could convince them that reform is in their best interest.
Kudlow, the director of the White House’s National Economic Council, was responding to Cook’s announcement Wednesday that Apple was downgrading its earnings projections for the first quarter of the year due to weak sales in China, a factor he attributed to the ongoing trade war with the U.S. White House adviser Kevin Hassett predicted on Thursday that other corporations that do business in China would also be taking financial hits.
Asked on Fox about Hassett’s prediction, Kudlow said the administration wanted to dial down the pressure on China but couldn’t do that until Beijing made serious reforms. The corporate leaders could help by making Beijing realize that reform was the best way out. “Our CEOS can work with the Chinese,” he said.
The Trump administration has set a March 1 deadline to reach a deal with China or else it will increase tariffs on $200 billion worth of goods to 25 percent, up from 10 percent. It has tariffs on $250 billion worth of Chinese goods total. China has responded with tariffs on $120 billion of U.S. goods.
On Friday the administration announced that a delegation of trade officials would be heading to China on Monday to lay the groundwork for talks later this month.
