President Donald Trump give remarks at the Unleashing American Energy event at Energy Department headquarters.
June 29, 2017 Photo Simon Edelman, Energy Department
I’ve always liked Larry Kudlow, both during his time on CNBC, and now as Trump’s top economic adviser. His enthusiasm is contagious. I like his optimism for the economy here. Renae Reints reports on the interview for Fortune:
In an interview with CNBC Wednesday, Kudlow seemed optimistic for the U.S. economy despite the current trade war.
“We are getting 3 [percent] and it may be 4 for a quarter or two,” Kudlow told CNBC. “That’s all for the good. Literally millions more people are working.”
GDP growth for the first quarter of 2018 was 2%.The White House has aimed to boost the economy through tax cuts, spending increases, and deregulation since Trump took office. Most recently, Trump has turned to increasing tariffs on products from China, the European Union, and Canada, sparking retaliation and launching a trade war.
Kudlow, a longtime advocate for a free market, said that while he generally opposes tariffs, something needed to be done about international trade. The Chinese government “knows they’re wrong,” Kudlow told the network. “Something has to be done here.”
“This guy, President Trump, has the biggest backbone,” he said. “He will not let go of this point, nor should he in my opinion.”
Kudlow also said more tax legislation could be coming. Following Trump’s tax cuts last year, he told CNBC there could be a “2.0 and 3.0 and a 4.0.”
Read more here.
Originally posted on Yoursurvivalguy.com.
