Republican Sen. John Kennedy of Louisiana told Fox Business host Larry Kudlow Tuesday he suspects China is cooking its books on economic growth.
Treasury Secretary Scott Bessent on Tuesday told the House Appropriations Committee’s Subcommittee on Financial Services and General Government that the Trump administration has not talked with China about trade or negotiating an end to increased tariffs. During an appearance on “Kudlow,” the senator said he suspects China’s economy was “weak as rainwater.” (RELATED: Scott Bessent Says Trump Admin Has ‘Not Engaged In Negotiations’ With China ‘Yet’)
“I’ll bet you a soda and a nice hat [that] China’s economy is not growing at more than 2%,” Kennedy said. “They say 5%, but they lie like they breathe. But we’re going to have to wait them out. It’ll be painful for us, but it’s going to be even more painful for them, and I’ll say it again. Their economy is weak as rainwater. Our economy is in a much better shape than theirs is.”
WATCH:
President Donald Trump announced a 90-day pause on reciprocal tariffs via an April 9 post on Truth Social that also announced substantial increases on tariffs on Chinese exports to the United States, a week after he initially unveiled the duties on imports. In an April 2 executive order, Trump also ended the “de minimis” exception for packages shipped directly from China, slapping a tariff of $25 or 30%.
“Trusting China to do anything other than what is in their best interest is naive and inconsistent with history and common sense,” Kennedy said. “The Chinese government cheats. They do. They can steal socks without taking your shoes off. But they need America. They buy from us, or they sell us about four to five times more than we sell them. That’s why, ultimately, we will win in a trade war. Having said that, I hope that Xi Jinping and China has more sense than God gave a goose and [will] step up and call the president and say ‘Let’s work something out.’”
“Shark Tank” star Kevin O’Leary, during an April 24 appearance on the Fox Business Network, urged the Trump administration to press the issue. Kudlow highlighted what he said was China’s misconduct. Kudlow said China was no longer providing data on retail sales, unemployment and issues with loans on property. He called the Communist nation “the worst.” (RELATED: John Kennedy Gives His Assessment Of AOC — And Some Innocent Critters May Feel Insulted)
“I agree with everything you said,” Kennedy responded. “Trust in God but tie up your camel. That’s what’s got to guide you dealing with China. As you know, Larry, you’ve negotiated with them. We admitted China to the World Trade Organization December 11, 2001. China started cheating December 12. But if we do reach a trade deal with them, we won’t just trust them, we’ll verify, and there is a way to verify what we’re selling them and what they’re selling us.”
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