Trump Aide Says U.S. Economy Can Absorb Hit From China Tensions

Now is the right time to pressure China on its trade policies because the U.S. economy is strong enough to absorb uncertainty arising from bilateral tensions, White House Council of Economic Advisers Chairman Kevin Hassett said Monday.

Hassett spoke three days after President Donald Trump vowed to impose tariffs on at least $50 billion in Chinese goods amid failed trade negotiations with Beijing. The Chinese government immediately threatened to retaliate, and global stocks retreated as concerns mounted that the world’s two biggest economies are headed toward a trade war.