Trump can't win China trade war: David Stockman

By Jason RosenbergTrade WarFOXBusiness

Fed's Powell pivoted, capitulated in order to keep Wall Street Happy: David Stockman

Former OMB Director David Stockman on the state of the economy under President Trump.

Former Director of the Office of Management and Budget, David Stockman, said that he is unhappy with President Trump's negotiating skills when it comes to China. And in his opinion, a trade deal will never happen.

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“I don’t like a $30 billion tax on American consumers in the name of a trade war that cannot be won,” he told FOX Business’ Maria Bartiromo on Monday. “We’re not going to have a deal at the end of March.  We’re going to have a deal to have a deal.  This is going to go on indefinitely with all kinds of milestones of enforcement and so forth.”

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The U.S. and China are reportedly inching closer to reaching a trade deal. And just last week, Larry Kudlow said that a formal deal could be signed during an upcoming summit between Trump and Xi at Mar-A-Lago.

“We made so much progress last week when the Chinese were here," he told Stuart Varney on Friday. “The agreements made last week represent tremendous progress on IP theft, on forced technology transfer, on ownership, on cyber interference and maybe most importantly on enforcement.”

Stockman also criticized Trump for running up “trillion-dollar deficits” and attacking the Fed.

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