White House economic adviser Larry Kudlow said Apple CEO Tim Cook should help the U.S. get trade reforms through with China.
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“Tim Cook can always – any CEO can help us,” Kudlow told FOX Business’ Ashley Webster on “Varney & Co.” on Friday. “Talk to the Chinese leadership, for example. Talk to the locals, talk to the state people. Talk to the top councils, talk to President Xi.”
After slashing its revenue guidance by several billion, Cook blamed weak iPhone sales on China's slowing growth rate. However, in Kudlow’s opinion, assisting the U.S. in China trade relations would not only be a boon to the iPhone maker’s bottom line, but also the Chinese economy, which has been weakening recently.
“The Chinese economy is sinking. It’s sinking,” Kudlow said. “They’ve lost all market-based reforms – maybe not all. But they’re moving on the wrong track. Too much statism. Too much central planning. Too much central control. It doesn’t work. And so you see retail sales, car sales, business investment – it’s all slumping.”
Trade representatives from both countries are expected to meet in China next week to discuss how to resolve the ongoing trade dispute and other economic issues, according to the Wall Street Journal.
China and the U.S. reached a 90-day trade truce in Argentina last month that will end on March 1 to resolve top trade issues ranging from forced technology transfers, intellectual property protection, nontariff barriers, cybertheft and agriculture practices.