Kudlow less optimistic about US-China trade deal

Kudlow less optimistic about US-China trade deal

Trump said trade talks were "moving along nicely" and that meetings were "being scheduled" at the G20 summit planned in Buenos Aires at the end of this month.

Trump has long threatened to impose tariffs on all $500 billion-plus goods imports from China if Beijing fails to meet his demands for sweeping changes to its policies on intellectual property, technology transfers, industrial subsidies and local market access.

His comments came one day after Trump spoke with Chinese President Xi Jinping over the phone.

Kudlow, who heads the White House's National Economic Council, added that Trump wasn't making a promise, but giving a "very important hypothetical".

The telephone conversation on Thursday was Trump and Xi's first publicly disclosed call in six months.

Trump has imposed penalty tariffs of up to 25 percent on $250 billion of Chinese goods in a dispute over Beijing's plans for state-led development of technology industries.

Earlier this week, Trump said he thought there would be "a great deal" with China on trade, but warned that he had billions of dollars worth of new tariffs ready to go if a deal did not materialize. "President Xi Jinping also stressed that China-U.S. trade has always been serving as ballast and a stabilizer for China-U.S. relations".




Washington accuses the two companies of stealing trade secrets from U.S. memory chip maker Micron Technology, but China's commerce ministry opposes the charges and has demanded Washington "remedy the mistake".

Despite the promise offered by the Trump-Xi telephone call, the level of tension between the two nations was demonstrated just hours after it ended when the U.S. filed charges against Chinese technology firm Fujian Jinhua Integrated Circuit Co and its Taiwanese partner.

"Frankly, the principal culprit is China", he said. For example, it's unknown whether he is considering relenting on his administration's hard line against China's theft of United States intellectual property, which one of the people said remains a key sticking point in any potential deal.

A key point of contention for the United States has been its allegations that China has engaged in widespread intellectual property theft.

China's latest economic indicators suggest the trade war is having a bigger and quicker impact on the economy than expected.

"If we can open up China and make it fair, for the 1st time ever, this should have done years ago by other Presidents but it was not- I am very much willing to do it".

The headwinds have increased with Trump's specific charge - publicly echoed by Vice President Mike Pence - that China is actively trying to interfere in the U.S. midterm elections, to be held on November 6.

Related Articles

  • Arsenal now closer to Premier League's best - Emery

    Arsenal now closer to Premier League's best - Emery

    A point certainly felt well deserved and Arsenal easily could have scored more if they had been sharper in front of goal. Liverpool kicked off the second half in a lively manner, when James Milner pounced on a Bernd Leno mistake.
    Shane McMahon Wins The World Cup Tournament At WWE Crown Jewel

    Shane McMahon Wins The World Cup Tournament At WWE Crown Jewel

    Triple H made an official announcement of the match on the first RAW after the WWE Super Show-Down. -Shinsuke Nakamura vs. Fans can watch it on the WWE Network for £9.99 per month with a free month trial if you subscribe immediately.
    Fist fight led to bus plunging into China river, police say

    Fist fight led to bus plunging into China river, police say

    According to the China Daily, a female passenger named Liu had missed her stop and asked the driver to stop immediately. It doesn't look as if the driver had time even to hit the brakes before the bus went off the bridge.
  • Utah mayor killed in Afghanistan in ‘apparent insider attack’

    Utah mayor killed in Afghanistan in ‘apparent insider attack’

    The assailant was a member of the Afghan security forces who was immediately killed by other Afghan forces, the statement said. Taylor's body is scheduled to be flown back to Dover Air Force Base today and funeral arrangements are pending, he said.
    DECISION 2018: Early Voting Shows Republicans Out Voting Democrats

    DECISION 2018: Early Voting Shows Republicans Out Voting Democrats

    Jones County's early voters are asked to go to the Board of Elections office, 367 N.C. 58 South in Trenton, to cast a ballot. And there are independents and third-party voters, as well. 31, it's too late to request a mail-in ballot.
    Morata brace sends unbeaten Chelsea second

    Morata brace sends unbeaten Chelsea second

    Chelsea ace Ruben Loftus-Cheek is set to face Crystal Palace for the first time since his return to Stamford Bridge. The Eagles are over-reliant on Zaha to get them out of trouble on most occasions, which is never a good thing.
  • AP Top 25 Podcast: Playoff race hits full stride Saturday

    AP Top 25 Podcast: Playoff race hits full stride Saturday

    Notre Dame doesn't have the same strength of schedule that LSU has in the SEC, but two games could trip up the Fighting Irish. And beyond that, how does a one-loss Bama team, one most experts agree is the best of all Nick Saban's teams get left out?
    Pakistan Islamists call off protests over blasphemy acquittal in deal with government

    Pakistan Islamists call off protests over blasphemy acquittal in deal with government

    The court has set no dates to take up the petition, but Bibi's release could be further delayed by the process. Pakistan's supreme court has not been known to reverse its decisions, but court reviews tend to take years.
    United States  may end birthright citizenship

    United States may end birthright citizenship

    Trump doesn't believe that should necessarily apply to the American-born children of undocumented immigrants . The children, as citizens, can then sponsor their families to become USA citizens as well once they turn 21.
  • 7 killed in Egypt as bus carrying Christian pilgrims is ambushed

    7 killed in Egypt as bus carrying Christian pilgrims is ambushed

    At least seven people died and 14 others were wounded when gunmen opened fire on two buses driving towards the St. Samuel the Confessor monastery in Minya province south of Cairo , according to the interior minister.
    Erdogan, Trump mull situation in Syria, steps to improve relations

    Erdogan, Trump mull situation in Syria, steps to improve relations

    Central Command said in a news release that a ground force commander agreed on by both countries will lead the joint patrols. Conducting joint patrols is seen as a way to tamp down potential violence between the various groups in the area.

    Barbra Streisand opens up about stage fright on "Carpool Karaoke"

    Are you a fan of Barbra Streisand? However, we only choose products we would or have purchased ourselves. Buy Streisand's new album Walls here .