Kudlow: Trump Is the First Guy in Several Decades to Take Strong Actions to Remedy a Very Unbalanced Trading

KUDLOW: "In simple terms, we will have a choice of where to buy goods and service, particularly the goods. So we don't have to buy it from China, and hence pay the tariff. We don't have to. There are other countries, including Mexico, got our substitutes. So the elasticities can be pretty strong. And I think that plays into it. So, any consumer effects, I just call the economics consumer effects, I think will be very, very small for it, very small. We've looked at this, Kevin and I, minuscule. And the overall economic picture, the so-called economic burden, I think actually it's going to shift to China more than it's going to damage the U.S."