Hassett: Absent China deal, expect lower earnings for U.S. companies

摘要

White House adviser Kevin Hassett on Thursday said he expected U.S. companies doing business in China to downgrade earnings projections until the U.S. and China agreed to de-escalate trade tensions. "I think that there are a heck of a lot U.S. companies that have a lot of sales in China that are basically going to be watching their earnings be downgraded next year until we get a deal with China," Hassett said in an interview on CNN. Hassett, who chairs the White House's Council of Economic Advisers, attributed companies' downgraded earnings to a downturn in the Chinese economy. That downturn is pressuring China to strike a deal with the U.S., he said.