Top White House economic adviser Larry Kudlow on Tuesday called U.S. trade negotiations with China "Pretty far advanced" and said the issues under discussions between the two countries are broader than in prior conversations, yet also cautioned that the outcome is in doubt.
Kudlow struck a cautious tone when asked about the potential outcome of talks around long-standing issues like China's theft of intellectual property and forced technology transfers, acknowledging that a deal "May not get done."
On top of a commitment to purchase agriculture and industrial products from the U.S., Trump also announced on Sunday that China will remove an additional 25 percent tariff on American car imports, a pledge that Kudlow called a "Litmus test."
Xi has yet to confirm that China will reduce the levies, imposed as trade tensions between the two countries grew more contentious, but "Trump believes they will," Kudlow said.
"We'll see, China has its own communications," he said.
Should no broader trade deal be reached in roughly the next three months, Kudlow said the White House is prepared to advance new tariffs on $267 billion in Chinese goods and hike the existing tariffs on $200 billion in products from 10 percent to 25 percent.
Kudlow also acknowledged that it is not realistic to expect major reforms from China within 90 days.
https://www.washingtonexaminer.com/business/larry-kudlow-i-have-no-assurances-us-and-china-will-reach-broader-trade-deal
Kudlow struck a cautious tone when asked about the potential outcome of talks around long-standing issues like China's theft of intellectual property and forced technology transfers, acknowledging that a deal "May not get done."
On top of a commitment to purchase agriculture and industrial products from the U.S., Trump also announced on Sunday that China will remove an additional 25 percent tariff on American car imports, a pledge that Kudlow called a "Litmus test."
Xi has yet to confirm that China will reduce the levies, imposed as trade tensions between the two countries grew more contentious, but "Trump believes they will," Kudlow said.
"We'll see, China has its own communications," he said.
Should no broader trade deal be reached in roughly the next three months, Kudlow said the White House is prepared to advance new tariffs on $267 billion in Chinese goods and hike the existing tariffs on $200 billion in products from 10 percent to 25 percent.
Kudlow also acknowledged that it is not realistic to expect major reforms from China within 90 days.
https://www.washingtonexaminer.com/business/larry-kudlow-i-have-no-assurances-us-and-china-will-reach-broader-trade-deal
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