White House economic adviser Larry Kudlow on Sunday acknowledged that the Chinese do not directly pay tariffs on goods coming into the U.S., contradicting President Trump’s claims that China will pay for U.S.-imposed tariffs. “Both sides will suffer on this,” Kudlow said, arguing that China will suffer significant GDP losses as export markets are hit. On the other hand, he said the blow to U.S. GDP, on the other hand, won’t be substantial since the economy is “in terrific shape.” (CNBC)