President Donald Trump’s top economic adviser, Larry Kudlow, said he anticipates great economic growth and more tax cuts by the Trump administration.
In an interview with CNBC Wednesday, Kudlow seemed optimistic for the U.S. economy despite the current trade war.
“We are getting 3 [percent] and it may be 4 for a quarter or two,” Kudlow told CNBC. “That’s all for the good. Literally millions more people are working.”
GDP growth for the first quarter of 2018 was 2%.
The White House has aimed to boost the economy through tax cuts, spending increases, and deregulation since Trump took office. Most recently, Trump has turned to increasing tariffs on products from China, the European Union, and Canada, sparking retaliation and launching a trade war.
Kudlow, a longtime advocate for a free market, said that while he generally opposes tariffs, something needed to be done about international trade. The Chinese government “knows they’re wrong,” Kudlow told the network. “Something has to be done here.”
“This guy, President Trump, has the biggest backbone,” he said. “He will not let go of this point, nor should he in my opinion.”
Kudlow also said more tax legislation could be coming. Following Trump’s tax cuts last year, he told CNBC there could be a “2.0 and 3.0 and a 4.0.”