National Economic Council Director Larry Kudlow appears on CNBC for an extensive interview on upstream economic issues. With China’s economy at a standstill; and with the troubles of the coronavirus spreading outward; what does that mean for us?
There’s some good questions in this interview. Domestically, as we noted yesterday, the U.S. economy is strong and growing. However, the Wall Street multinationals are very exposed to the China issues. On the bright side the overall China issues are helping to push more corporate decisions toward domestic investment and away from Beijing.
Given these lessons being learned, I sure wish we didn’t have China involved in making our medicines and medical products. The administration needs to look at this more.
Director Kudlow also appeared on Fox Business with Lou Dobbs.
WASHINGTON – The Trump administration is planning a 5G summit at the White House in early April as part of its global effort to ensure that Chinese telecom giant Huawei does not become dominant in next generation communications technologies, officials told CNBC.
The event has not been officially announced yet. The president’s top economic advisor, Larry Kudlow, told reporters Friday that such a meeting would happen.
“We’re going to have a lot of them in the White House to have a discussion. I’m sure the president will join us in part. That would include Samsung, that would include all of our guys,” Kudlow said.
The development comes at a crucial moment for U.S.-Chinese relations. China, which is grappling with the coronavirus outbreak, last month signed a “phase one” trade deal with Trump as both sides look to complete additional phases.
Behind the scenes, a senior administration official said telecom and technology CEOs have been visiting with President Donald Trump at the White House to explain their views on how to make sure that American firms continue to dominate the communications industry. (more)