Tags: China | Trump Administration | kudlow | china | tariff | hikes

Kudlow: China Tariff Hikes 'Still on Table,' Sees Progress on Deal

Kudlow: China Tariff Hikes 'Still on Table,' Sees Progress on Deal
(Dreamstime)

Friday, 01 November 2019 11:31 AM

White House Economic Adviser Larry Kudlow says additional tariffs on Chinese goods are still possible as negotiators from the U.S. and China hash out details of the potential first step in a trade accord.

“They’re still on the table until this phase one deal is completed, or worst case not completed,” Kudlow said Friday in an interview on Bloomberg Television. “The president has hinted, depending on the process of phase one, he may be willing, I say may be willing, to take a look at those tariffs.”

Principles from the world’s two largest economies including China’s Vice Premier Liu He, U.S. Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer are holding meetings by phone Friday to negotiate details of a phase one deal that was announced Oct. 11.

“The mood music has been very positive, very constructive,” Kudlow told reporters Friday of the discussions.

Negotiators are close to finishing details of the pact on China’s increased purchases of U.S. agriculture products, currency stability and opening of financial services markets to American firms, Kudlow said. They’ve also made “excellent progress” on the issue of intellectual property theft, Kudlow said. Disputes around so-called forced tech transfer will likely not be resolved until a possible phase two of the deal.

Both countries are seeking an alternate location to sign a deal, if they reach one, after Chile canceled a summit this month where President Donald Trump and China’s leader Xi Jinping were aiming to meet.

© Copyright 2020 Bloomberg News. All rights reserved.


   
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White House Economic Adviser Larry Kudlow says additional tariffs on Chinese goods are still possible as negotiators from the U.S. and China hash out details of the potential first step in a trade accord.
kudlow, china, tariff, hikes
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2019-31-01
Friday, 01 November 2019 11:31 AM
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