Sunday Talks: Larry Kudlow -vs- Chris Wallace on China…

National Economic Council Chairman Larry Kudlow appears on Fox News to debate Chris Wallace over the U.S-China trade reset.  As customary Wallace completely ignores the dynamic of communist China as a state run economy, and not a free market system; thus presenting the fictitious Wall Street position about bad tariffs.

Chairman Kudlow notes the bigger issues of President Trump confronting the enforcement mechanisms that must be in place if a trade agreement (FTA) between a free-market system (USA) and a state-run system (China) are going to work…


Washington, DC – U.S. Trade Representative Robert Lighthizer today released the following statement regarding additional action under Section 301 of the Trade Act of 1974:

“Earlier today, at the direction of the President, the United States increased the level of tariffs from 10 percent to 25 percent on approximately $200 billion worth of Chinese imports. The President also ordered us to begin the process of raising tariffs on essentially all remaining imports from China, which are valued at approximately $300 billion.”

The process for public notice and comment will be published shortly in the Federal Register. The details will be on the USTR website on Monday as we begin the process prior to a final decision on these tariffs.  (link)

This entry was posted in Auto Sector, Big Government, China, Communist, Decepticons, Donald Trump, Economy, Legislation, media bias, President Trump, Trade Deal, Uncategorized, US dept of agriculture, US Treasury, USA. Bookmark the permalink.

89 Responses to Sunday Talks: Larry Kudlow -vs- Chris Wallace on China…

  1. FL_GUY says:

    China bought politicians wholesale under the HilLIARY, err Slick Willie, administration. HilLIARy was one of their biggest purchases. I hope that all these politicians, ALL of them, are exposed as working for the Chicoms.

    President Trump is again, working to undo the damage done by previous D-Rat control of the country.

    Liked by 16 people

    • SwampRatTerrier says:

      Did you know Chris Wallace is a self-confessed long-time registered Democrat Party member?

      Liked by 2 people

      • todayistheday99 says:

        No, but it doesn’t take much watching to see he is a shill for the deep state and uniparty. A FOX shill is worse than a CNN liar.

        Liked by 14 people

      • Peoria Jones says:

        Yes. His Wiki bio is an interesting read.

        The insufferable lil’ Chrissy was raring to go with his graphics today, showing exaggerated uncomplimentary stat’s to solidify his narrative.

        Liked by 1 person

        • budklatsch says:

          Stats stats and damn stats! Compare one of us having to pay an additional cost due to tariffs against one of us that lost their job, security, possibly homes because of ‘free’ trade that has been unbalanced for generations. At least we have the option of NOT buying or buying American. Jeezs! Second, travel to Europe as I have done for decades. Europeans already pay far greater for the same consumer products that we have here. European cars cost more than they do here. Europeans have had far less disposable income due higher taxes and they pay far more including a punishable VAT tax. So, suck it up my fellow Americans. We are in for the mother of all trade corrections long needed.


          • swissik says:

            I have family and friends in Europe, specifically Switzerland, Italy and Austria. The fact that they pay VAT etc. is equalized by the fact that their salaries are substantially higher than Americans of my acquaintance in similar jobs.


      • Ollie Hadfield says:

        Not surprised I can’t stand him,

        Liked by 1 person

      • GB Bari says:

        The very next time that one of President Trump’s trade team is interviewed by Chrissy Wallace and Wallace starts down this “how badly does this hurt the American farmer, the middle class, the workers, etc.”, the Trade team member needs to toss this right back at Wallace:

        Chris, how come the vast majority of the U.S. media did NOT constantly propagandize against rationing in WWII? Rationing deeply affected all Americans for three years; it significantly changed their way of life in many aspects. Do you, Chris, believe we are NOT in an economic confrontation with China; that we have not been under an economic assault for twenty years??



    • says:

      The real story here is there ain’t no USMCA or China deal. It ain’t happening thanks to Dims and McConnel and his coharts. One will blame the other and do nuthin will continue.,Graham will continue to distract and act like he’s on our side but he’s still chewing on his lip for 2020 or 2024. “Remember Trillions upon Trillions are at stake” it’s the reason congress approval rating is 5% based on my polls! By the way Trump needs to release the kraken but I’ll be damn if horitz delays again and Huber ain’t got nothing within the same release. I’ll give it another month before I call BS! Yes I’m frustrated! It’s like watching a 2 year long castration.

      Liked by 1 person

  2. Calbear84 says:

    Kudlow informed, rational and positive. Cassandra Wallace no match for him.

    Liked by 6 people

    • TarsTarkas says:

      Please don’t besmirch poor Cassandra. Everything she prophesized came true.

      Chicken Little is a better nickname for Mr. Wallace, considering his attitude.


  3. stablesort says:

    I’ve read several sources claim that by keeping prices down, China is paying more of the tariffs than are the US customers. Chris Wallace says that ain’t so and Ludlow seemed to agree with him.

    What’s the real story?

    Liked by 1 person

    • Dutchman says:

      My take, for what its worth is its too complicated to sound bite. Gets into weeds, and low info voters can’t follow, so pick your battles on messaging?

      Obviously, the tarifs cause all sorts of effects on China, and China is going to try to mitigate those effects, any way they can.

      Go back and look at the DIRE, end of the world predictions of what the results would be, from putting tarifs on Chinese steel and aluminum.

      OMG, a can of soda (or BEER) is gonna cost like, $5, ALL products with steel or aluminum are going to go up, SO MUCH!

      DIDN’T happen. At a certain point, I stopped listening to ‘experts’ predicting what DJT’s MAGAnomic policy effects would be, because they are so consistently wrong.

      In fact, their consistency makes them a useful reverse barometer. When they say his policy will HURT the economy, you can rest assured it will help.

      Ignore the nitwits, they are either so locked into failed perceptions of economics, OR they know they are pushing B.S.

      So, whether ignorant or complicit, they are WRONG, and THATS the key take away.

      Liked by 17 people

    • zorrorides says:

      Yep, I’m curious too. I’d read (somewhere not a Dimm source) that up to this week, seller China has paid 19.5% and US buyers paid 5.5% of the 25% duty, or put another way it’s China pays 80%, US buyer put up 20%.

      Somebody, and it’s not the local retail store, is making a lot of profit from ‘made in China’. Can China manufacturers or China Gov make a profit and pay the tariffs too? They would keep their jobs rate stable and keep their market share too.


      • Henry chance says:

        It is a little complicated but also simple. Tariff is levied at the producer loading dock price. The widget is picked up by an exporter and shipped to US distributor. Then thru the supply chain to retail. 25% tariff on Air Jordan Nikes which were $8.23 a pair F.O.B. N Korea are $200.00 on sale for $149.00. Indonesia made 1.5 billion pair for $6 billion. Nike may have less than 2 dollars more raw material. Using bribes, many members in the distribution chain are locked in. But the tariff is not on wholesale to Woolworth (Foot Locker) at the dock.

        In China at the factory, the gubment can make them lower price and absorb tariff to keep customer from going to Pakistan or Indonesia.

        Liked by 2 people

        • Well done, Henry.

          Today, I heard that Chinese-made “stuff” that retails for $25 cost $2 to make.

          When USA consumers send back “returns”, there’s so much profit in them, they’re
          • Shipped back in bulk to China for credit and/or
          • Rebranded and repacked for resale.

          Liked by 1 person

      • I read that China’s paying 20.5% of the tariff.
        Importers and Retailers pick up the last 4.5%.

        Now that the cat’s out of the bag, only an IDIOT Importer would fund any more.


      • John Titor says:

        I would pay a bit more to buy products made in USA. I try to as much as possible now. Long term, hopefully most everything will be made in USA or if made in China or elsewhere good products will outpace poor products. Right now Amazon, Walmart Sams Costco etc etc is full of crappy Chinese junk. China’s economy will evolve for the better if they cannot be monopolistic due to unfair tariffs.


    • jrapdx says:

      Maybe I missed something but I didn’t hear either of them say China was (one way or another) decreasing costs of products to compensate for tariffs. AIUI so far the tariffs have had minimal impact on costs of goods. Don’t know if that will change with the tariff increases just put in place. At some point I expect China won’t be able to keep subsidizing its exports and prices in the US will rise. I imagine how much of a rise depends in part on the degree manufacturing shifts to other locations including to the US itself.

      Liked by 1 person

      • China isn’t decreasing “costs [Prices]”, the Chinese State is FUNDING the Tariffs.

        Every COMPETENT seller is already charging whatever Prices the market will bear. Only an INCOMPETENT seller is going to raise prices “because Tariffs”.

        The only products whose price might rise are ones whose consumers are so PRICE INSENSITIVE that they won’t bother to buy less often or buy other brands.

        Liked by 1 person

        • jrapdx says:

          OK, that’s a better description. By funding the tariffs China is subsidizing exports to the US, essentially discounting cost of the commodity on import into the US. Any case, the part of the tariffs borne by China doesn’t add to the cost to the US consumer, which was really to the point insofar as keeping inflation low. The resulting effect of this policy on China’s economy has to be unfavorable, can’t imagine it’s sustainable for the long term. Some time down the road China will have to cry “uncle” and start to negotiate in earnest, we’ll see how it long it takes them to get there.

          Liked by 2 people

    • Mad Mike says:

      I’m far from an expert but I can relate a story of someone I deal with. He has his product made in China, as so many do these days. It’s a very small company that makes painted resin figures.

      Once his product is outside the port, he says he has to pay the tariff fee (percentage of commercial invoice, price he’s paying for goods not the retail price).

      He’s been eating the 10% but 25% is making him uncomfortable. For certain, the price will begin to be passed on to buyers.

      Uneducated folks immediately begin to bemoan how Trump is raising their prices without really knowing what they’re talking about. If the product was made in the States, there would be no tariff… the President is trying to help our country not hurt it. Ignorance is public enemy #1.

      Liked by 9 people

    • thebigharry says:

      The truth is that China needs to keep the total cost to the consumer the same after tariffs as before tariffs otherwise the consumer will purchase none China product. China does this buy subsiding the cost of the product. A $100.00 product is reduced to $80.00, through subsides, and a $20.00 tariff brings the total consumer cost back to $100.00. So, yes the consumer is paying the tariff but, China is eating the cost of the tariff, not the consumer.

      I used a simplistic example that isn’t entirely accurate but, it shows how the consumer will not be paying 25% more for products from China.

      Liked by 1 person

    • The Chinese establish pricing based on market domination rather than cost. American manufacturers will suffer, but Chinese companies have a government that virtually guarantees “profit”.
      Further, China has no welfare that will sustain those who’s jobs are lost by loss of US consumption. They are working to develope other markets but not yet.
      America is negotiating from relative strength, whereas China’s economy is suffering and loss of market share will hurt much more than loss of revenue.

      Liked by 2 people

    • Barry Ripley says:

      I live in China and have talked about this with two Chinese. One woman said her company will just settle for less profit to keep their prices competitive. So, in effect, the Chinese are paying the tariff, just like Trump said. The other person said many Chinese believe the tariffs will force their government to make internal reforms faster. I’ve never heard that before. You certainly won’t hear it on CNN.

      Liked by 3 people

  4. weirdflunky says:

    But but what about all this useless crap I buy from WalMart? How can you expect me to pay 25% more for more useless crap from WalMart?


  5. Mad Mike says:

    “You gotta do what you gotta do…” and I agree wholeheartedly with Chairman Kudlow on this. This deal will impact the future of our country in a big, big way.

    People that are moaning about paying more for the crap coming from China are lost in the woods. This is our way out of that mess and the key to prosperity for so much of America. Sometimes, it takes sacrifice to get to a better place.

    Liked by 5 people

    • CharterOakie says:

      Similar to Chrissy Wallace’s bogus stats, most people ignore the other side of the equation:

      It’s not a question only of whether nominal prices rise as a result of the tariffs….
      …which, by the way, make it possible for (additional) domestic producers of the same products to compete more effectively and hire additional Americans to produce those products;

      It’s ALSO — very importantly — a question of Americans’ increased purchasing power as a result of increased domestic employment at higher and growing wages in the manufacturing (as opposed to service) sector.

      It’s entirely possible — and the clear objective of MAGAnomics — that the increased purchasing power as a result of higher, more remunerative employment in higher-value-added activity will more than offset the higher consumer costs.

      Blows my mind that people can’t seem to think it through and understand that fairly obvious connection.


  6. emet says:

    China levies an export duty, and I believe they have instituted rebates on steel and other products to lighten the impact of tariffs. Export duty is prohibited by our Constitution, although some years ago Congress tried to get around it by calling it a Harbor Maintenance Fee. The Supreme Court was not fooled.

    Liked by 2 people

  7. Bigly says:

    Hey Chris – here is like…an ACTUAL CEO talking how much tariffs have impacted his whirlpool supply chain biz

    Liked by 3 people

  8. jrapdx says:

    Wallace was much less combative today vs. recent weeks. He let Kudlow respond mostly without interruption. Wallace did try to portray the President’s strategy as anti-consumer, but Kudlow effectively countered that saying the figures Wallace presented were “wildly exaggerated”. Neither said that China was decreasing product cost to compensate for tariffs, yielding minimal cost increases so far for Americans.

    Maybe Wallace was more subdued because many leading Democrats are supporting the President’s tough stance on China. We know the media “personalities” always go along with the narrative, in this case the narrative is more aligned with administration policies, so the interview today was minimally contentious.

    Liked by 2 people

  9. Doppler says:

    Excellent Zerohedge article up concerning China tweets about “wanting” Trump to play his tariff card on all China’s imports, because that will leave Trump without any more cards, while China has its “political card” to play – Xi for life vs US four year election cycle. Trump tweets this morning putting China’s delays into the context of the 2020 elections – don’t wait for softer Dem, I’ll win and then you’ll lose more.

    I find this whole negotiation to be fascinating: Trump vs the Panda/Tiger face enigma. Trillions at stake.

    Liked by 2 people

  10. nuwildcat1977 says:

    While Larry Kudlow is one of my favorites, Chris Wallace is not. I avoid his show to keep my blood pressure in check. Sundance, thanks for watching so I didn’t have to.

    Liked by 4 people

  11. mikeyboo says:

    I am not knowledgeable about economics but I trust Trump, Ross, Mnuchin, and company. They have been doing a fine job so far. Meanwhile the dogs bark as the caravan moves on.

    Liked by 1 person

    • Jan says:

      Sundance explains economics and foreign policy all in a way you can understand it. Sundance, as always, you ROCK!!


  12. TwoLaine says:

    Sure Jerk, I thoroughly enjoy your but, but, but, butting in on me. You rude, impolite jackaxx. Retire already.


  13. redhotsnowman says:

    I think it’s a good time to revisit this MAGA video.

    Liked by 2 people

    • cthulhu says:

      I think I’ve seen all of the parts of it, but this version is nicely constructed.

      On your statement below about “make you beam with pride and trust in our great president” — errrrrrr, no. It helps fix my existing resolve to cleanse America of the foulness that has washed onto it; it reminds me of the relief I felt when VSGPOTUSDJT was elected in 2016. Pride and trust are solely in regard to the great Republic that our Founders tried to leave us — which was subject to one of a thousand cuts scarcely as the ink dried.

      Liked by 1 person

  14. redhotsnowman says:

    I think it’s a good time to revisit this MAGA video.


    • redhotsnowman says:

      Every time I try and post using my phone it double posts. I’m sorry.
      But if you haven’t watched this video before it will make you beam with pride and trust in our great president.


    • redhotsnowman says:

      Every time I try and post using my phone it double posts. I’m sorry.
      But if you haven’t watched this video before it will make you beam with pride and trust in our great president.


    • CanaCon says:

      I doubt that I could have appreciated just how true everything he said is if I hadn’t been reading Sundance for the last 2 1/2 years. Thank you!

      Liked by 1 person

  15. Multi-national corporations and politicos that have hitched their wagons to China have picked the wrong horse. In the near future it is likely that they will be attending a Donner family reunion as they will need to attack each other for survival. When they realize that the dragon is just blowing smoke instead of fire it will be too late.


  16. TradeBait says:

    Look at how quickly the economy turned around with MAGA. Just like sundance has posted this whole thing is going Main Street. Wall Street will have to adjust this time – not us. That’s how you rewire the power structure. The other non-China global suppliers realize they have an opportunity to wedge their ways into the pockets of American consumers while American manufacturing and businesses develop their products and increase their markets. Suppliers and retailers were put on notice in sufficient time to get ready.

    On cheap stuff: I see two comparably priced shirts to choose to buy and the choice is between China made or anyplace else not named China. I choose the later if I decide to buy the shirt at all and only if the price is what I am willing to pay. China cheats, steals, uses slave labor, etc. on a much larger basis than any other country in the world. A shirt is a shirt. The non-China suppliers’ volumes increase such they are able to reduce prices. I keep buying their shirts. It’s not hard for the consumer to modify behavior if they know it is best for them supply and price wise as well as for their country. Which is why the globalists in bed with China use their MSM lapdogs to try to muddy up the water. Tariff them out of business for all I care. They are cabal and own the Democrats.

    Liked by 4 people

  17. mr. deacon says:

    Back in the day, labels on stuff read; Made in Taiwan, Made in Mexico, Made in USA. Electronics were made in Japan. Now everything is made in China. Except for some high quality stuff and some cars, and a few other things. Chinese labor is cheaper. After all, it’s practically slave labor. Did bulk shipping across the world get cheaper than labor costs of homemade stuff? Oh, tariffs and trade deals and long term payouts and swapping among third world international markets makes it all come out right. Except it does not come out right for America and the middle class taxpayer. And who gets to run things like pricing and manufacturing and shipping and labor if it isn’t going on here in America? Oh yea. Big Bubba takes care of all that for us. He even has a big old military complex dog in every yard and pond to make sure nobody pokes a stick in the spokes of our bicycle while we’re gathering up our goods. Makes one wonder why the rich folks are pushing for that Chinese kind of system and they want the third world to move to America.

    Liked by 2 people

    • mamadogsite says:

      Does anyone remember all of the dogs that got sick, and/or died from American brands of dog food made in China? Many of the treats as well?

      And how many ingredients used in our own food processing come from China?

      How about the pharmaceutical industry? Can you trust cheaper pharmaceuticals from Canada are not first processed in China?

      Remember cheap Chinese drywall?

      And the list goes on, and on, and on.

      If you wanted to bring a country to its knees…alter the food sources and supplies…worked on the dogs!!!!!!!

      Do they 100% inspect every shipping container from China?

      Just wondering….

      Liked by 4 people

      • I’m a retired architect. For 15 years I did many many projects in China. One time while having a typical dinner with client and entourage I saw something in my soup. I asked my translator what she thought it was. The big boss saw us discussing and asked if there was a problem. “No” my translator said – he was just commenting on something in the soup. The big boss replied – “ in China you don’t worry about what you can see. You worry about what you can’t see.”

        Liked by 1 person

  18. Don McAro says:

    China is on the Trump exiting office countdown….


  19. dan understahl says:

    One do not buy the China junk
    Two Kudlow is not for tariffs, personally, he is a wall street guy
    Three It is the multiNatioals and China as partners that pay for the tariffs, buyers could end up paying more but who cares, serves them right for buing chinese junk.


  20. LEET says:

    ” As customary Wallace completely ignores the dynamic of communist China as a state run economy, and not a free market system; thus presenting the fictitious Wall Street position about bad tariffs.” Sundance

    This is the mindset we are dealing with. I had a boss tell me 20 years ago that communism didn’t exist anymore. I looked at him and said, ” what do you think China is” he responded, “Oh they are not communist, they have a free market economy” Sadly, I have run into this false idea over and over again. I believe it is why our country has let their guard down a hundred different ways with COMMUNIST China, and China has taken full advantage of our ignorance/ stupidity.

    Liked by 2 people

  21. Gary Lacey says:

    At around 6:35 Wallace calls Trump a liar, at about 7:00 Wallace moves in for the kill, I had to shut the SOB off. Wallace is a Murdock flunky.

    Liked by 1 person

  22. JG3 says:

    I VERY MUCH! agree. We need to produce ALL our food! Talk about National Security! “we can’t close our border to the invasion because of avocados!” Don’t they grow in CA?

    Liked by 3 people

  23. woodstuff says:

    Kudlow should have said happy *mutha’s day*.


  24. A2 says:

    Wallace’s politics are irrelevant at this juncture, except to provide a platform for Mr Kudlow to get the administration’s message out loud and clear, as he has done.

    Read this thread by Daniel Lacalle on the US-China trade negotiations.

    Liked by 1 person

  25. bour3 says:

    Omg. Is it even possible to watch this interview and not watch nepot Wallace? Does a more punchable face even exist? Does Wallace actually expect Kudlow to answer how long Trump intends to hold out on his trade war, that Wallace cannot comprehend as part of negotiation process? I can listen to Kudlow. I cannot listen to Wallace. My ears will not cooperate when I try. Why does Kudlow even go on Wallace show? I conclude, Kudlow deigns, stooping so low, “this is how we explain things to resolute dopes.” So I must watch Kudlow explain things to an arrogant punchable idiot, the mong archetype for inbred nepotism at Fox.

    Liked by 2 people

  26. Sue Fowler says:

    How’s that new one, Chris? Really foolish to pick on a fact-based numbers guy. You have the reward of snotty arrogance. Try Heinz catsup on that crow.


  27. ALLAN CRAIN says:

    Wallace: Please tell China exactly when PDJT will give up and stop fighting the inevitable rape. This is the mentality that loses battles, wars, and countries. Please reveal you next move if the other side does A, B, or C.

    He knows nothing about negotiating.

    MSNBC yesterday was in Waterloo, IL (what a coincidence) and trying to get farmers to complain about the tariffs and how our agricultural prices are going to suffer.


  28. chickenhawk says:

    After watching, I must say Chrissy seems to be moving in the right direction, even if it is baby steps.
    At 10:24 Kudlow say “You gotta do what you gotta do” and followed with “This is worthwhile doing”.

    Wallace then agreed that Pres.Trump is right in his fight against China, saying “I’m in no way questioning the wisdom of deciding to take on China. There is no question there has been an unequal, unfair relationship in trade between Us and China.”

    Don’t get me wrong, I’m not a fan of Wallace, but this is still positive, even if it is only a couple of statements out of the whole interview.
    And at the very end, Wallace was quite affable, saying “Larry thank you. Thanks for your time, I must say, I hope you enjoy our conversations as much as I do. I find it a delight.” Kudlow smiled and said, “That’s why I’m here. Thank you. Appreciate it.”

    Baby steps. But maybe there is hope for the ‘ole boy.


  29. Clarence says:

    As usual there are many good ideas laced throughout the comments. I would like to add my perspective on three things we know:

    1.) The economic effect flow-through will not be immediate and in the short-run move in a counter-intuitive direction. Any decent analysis of the J-Curve will demonstrate. For example, see:

    2.) Economics is often spoken of in binary terms (If this, then that). However, the global economy is not a zero-sum game. What the President is accomplishing by raising tariffs is increasing the cost of Chinese goods. This only effects the end purchaser if the goods cannot be obtained at a similar cost elsewhere. Some of this production will move back to the US but there are also billions of workers around the globe that would jump at the opportunity. By rejecting the TPP, the President has brought about the set of conditions whereby China will likely have to face direct competition from many of its neighbors. In my view, there may be some supply disruptions and cost increases in the near term that would be offset or reversed in subsequent years.

    3.) The cost of Regulation is difficult to quantify but is quite real. Capitalism thrive on free exchange of goods, service and intellectual property in exchange for fair compensation. China cannot compete on this level and is therefore permanently handicapped. Regimes in command economies cannot remain in power without strict control. Enterprising nation states that have signed zero tariff agreements are suddenly at an advantage.

    I think the President has played this brilliantly. If China reconsiders, great. If not, then there are a lot of ways to skin a cat. I would expect that economic activity would return to the US and to zero tariff countries. Longer term, the shift of production to China’s competitors is far more costly than tariffs themselves. The sooner China “comes around” the better for them.


  30. Screaming Eagle says:

    Sundance labels him best – Swamp Guardian. Son of Mike (Wollinski) Wallace.


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