Larry Kudlow says he is optimistic that a trade war between the U.S. and China can be prevented.
"I think there's a little bit of a bromance" between President Trump and Chinese President Xi Jinping, Kudlow, who serves as chief White House economic adviser and head of the National Economic Council, said in an interview with Axios.
"Where this leads I don't know. It might even lead to a trade deal, which would make me very happy."
Still, there is much to be hammered out before a deal can go through, the veteran economist warned.
"China has got to reform its system. They've been breaking [World Trade Organization] rules for years on this stuff. They've been behaving like a third-world country," Kudlow said.
Kudlow's remarks come as Trump's top trade officials gear up to meet with Chinese Vice Premier Liu He to discuss concerns ranging from intellectual property protections to farm goods to steel capacity.
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