Kevin Hassett argues China hasn’t been adhering to the developed country rules under the WTO with respect to trade.
The U. S. would consider backing off on the China war once the world’s second-largest economy «begins acting like a developed nation», a top economic advisor to President Donald Trump told CNBC on Monday.
Kevin Hassett, chairman of the Council of Economic Advisers, argued that China has «not really been adhering to the developed country rules» under the World Trade Organization «with respect to trade.»
«The end game is that China begins acting like a developed nation.» Hassett said in a » Squawk Box » interview. «[If] they lower their tariff barriers on us, they open up their markets to us; and if they do that, then I think there’s a positive outcome that we can see down the road.»
Trump’s tariffs on $34 billion worth of Chinese goods kicked in Friday. Shortly thereafter, China imposed reciprocal measures.
