The United States could levy tariffs against China if there are any disputes, White House economic adviser Larry Kudlow said about the U.S.-China "phase one" trade agreement announced on Friday.

"If it's not resolvable, some economic valuation will be ascribed and actions will be taken. No question, there could be tariff actions taken as an enforcement tool," Kudlow said in an interview with CNBC. 

“We will see how it works.We will see if the Chinese stay with their word.”

Kudlow spoke after the U.S. and China cooled their trade war on Friday, by reducing some U.S. tariffs in exchange for increased Chinese purchases of American farm products and other goods.

Beijing has agreed to buy $32 billion in additional agricultural goods over the next two years, U.S. officials said, from a baseline of $24 billion purchased in 2017, before the trade war started. China would also ramp-up purchases of U.S. manufactured goods, energy, and services.

The United States would suspend tariffs on Chinese goods due to go into effect on Sunday, and reduce others, officials said. A deal is expected to be signed the first week of January in Washington by principal negotiators.

U.S. President Donald Trump tweeted Friday morning “We have agreed to a very large Phase One Deal with China.” Officials in China have “agreed to many structural changes and massive purchases of Agricultural Product, Energy, and Manufactured Goods, plus much more,” he said.

However, Kudlow noted that discussions over forced technology transfers — a major sticking point of the trade war since it began — may not be over along with talks about intellectual property protections.

"Regarding intellectual property rights, there’s a section in that chapter that would prevent the kind of counterfeiting among tradable goods that has been going on for years. that is clearly an unfair trading practice,” Kudlow said.

“There’s a section, also in the IP area, that says plainly that if an American company is going for a license to do business that any forced technology transfers will not be used by the Chinese.”

“We will test those propositions,” he said, adding the U.S. expects China to make these changes “in good faith.”

During a later news conference in the White House, Trump said he thought China would hit $50 billion in agricultural purchases.

Kudlow said those purchases will be made over a two-year period. “The sense we got from the Chinese is they believe it’s doable. They’ve been in the market buying ag and other commodities let’s say as goodwill,” he said.

In a press conference Friday night in Beijing, Chinese officials said the two countries have achieved major progress in their phase one trade negotiations, and agreed on the text of a deal, but offered no specific details on the amount of U.S. goods Beijing had agreed to buy.

Some U.S. business groups hailed the deal as an end to uncertainty that’s slowed global growth; critics questioned whether the trade war had been worth the job losses and drop in sales.

U.S. markets have gyrated on rumors and leaks about the trade deal in recent months, but were muted on Friday on news it had been agreed.