National Economic Council Director Larry Kudlow said Friday the strength of the U.S. economy gives it the upper hand over China as the two countries try to iron out a trade deal. “China’s economy is slumping and has been for quite some time. The U.S. economy, as I say, is in this prosperity cycle with no end in sight,” Kudlow told CNBC’s “Squawk on the Street. ” “So we believe that does give us some leverage, if you will.” Kudlow made his comments after the U.S. government released first-quarter GDP numbers earlier in the day. The U.S. economy expanded by 3.2% in the first quarter, the Commerce Department said. It ... (full story)