National Economic Council Director Larry Kudlow said Friday the strength of the U.S. economy gives it the upper hand over China as the two countries try to iron out a trade deal.
“China’s economy is slumping and has been for quite some time. The U.S. economy, as I say, is in this prosperity cycle with no end in sight,” Kudlow told CNBC’s “Squawk on the Street.” “So we believe that does give us some leverage, if you will.”
Kudlow made his comments after the U.S. government released first-quarter GDP numbers earlier in the day. The U.S. economy expanded by 3.2% in the first quarter, the Commerce Department said. It was the best start to a year for the U.S. economy since 2015. The print also topped a Dow Jones estimate of 2.5% economic growth.
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