Hassett also said China is in a slowdown and could even be in a recession.
"It's not going to be just Apple," he said. "There are a heck of a lot of U.S. companies that have sales in China that are going to be watching their earnings being downgraded next year until we get a deal with China."
So now he's holding US companies hostage? That's going to be a message that really resonates with donors.
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