Kudlow: New trade deals should boost economic growth by half percentage point

White House economic adviser Larry KudlowLawrence (Larry) Alan KudlowMORE said Sunday that the Trump administration's new trade deals should boost U.S. economic growth by half of a percentage point.

Kudlow told host Maria BartiromoMaria Sara BartiromoTrump lashes out at Fox News after poll shows him trailing Biden Trump complains Fox News is 'doing nothing to help' him get reelected Overnight Defense: Pentagon removes official from key role amid pandemic | Trump hints at bringing more F-35 production to US | Military being prepped to distribute possible vaccine MORE on Fox News's  “Sunday Morning Futures” that the U.S.-Mexico-Canada Agreement (USMCA) and the first phase of the China trade agreement exemplify the White House's “pro-growth” priorities. 

“I think that ... these trade deals are going to be very helpful,” he said. “They're going to reduce uncertainty and probably pick up some important business investment spending.”

ADVERTISEMENT

Kudlow said the trade deals with Mexico, Canada and China cover more than $2 trillion dollars worth of trading activity.

He added that he thinks the USMCA will pass “handily.”

Speaker Nancy PelosiNancy PelosiWomen suffering steeper job losses in COVID-19 economy The Hill's 12:30 Report - Presented by Facebook - Crowds return during Memorial Day weekend Democratic leaders say Trump testing strategy is 'to deny the truth' about lack of supplies MORE (D-Calif.) and President TrumpDonald John TrumpTrump anti-reg push likely to end up in court Biden set to make risky economic argument against Trump Hillicon Valley: Tech companies lead way on WFH forever | States and counties plead for cybersecurity assistance | Trump weighing anti-conservative bias panel MORE came to an agreement on the USMCA last week after working on it for months, as the impeachment inquiry loomed in the background. Trump and Chinese officials also announced a "phase one" trade deal Friday.

ADVERTISEMENT

Kudlow also praised President Trump’s strategy of being aggressive in trading agreements. 

“Not only is this positive for economic  growth, but it does show that President Trump’s example of being a tough, hard-nosed bargainer on trade an economic matters works,” he told Bartiromo.