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CNN reports that US President Donald Trump on Wednesday tried to tamp down economic anxieties over tariffs recently announced by China and the United States.
“We are not in a trade war with China, that war was lost many years ago by the foolish, or incompetent, people who represented the U.S.,” Trump tweeted, adding, “Now we have a Trade Deficit of $500 Billion a year, with Intellectual Property Theft of another $300 Billion. We cannot let this continue!”
Following Trump’s tweets Wednesday morning, White House chief economic adviser Larry Kudlow also sought to downplay trade war fears, telling reporters outside the White House that the President’s threat of new tariffs on China are just a negotiating position.
“I don’t think people should overreact right now,” Kudlow said. “This is a negotiation using all the tools.”
