Trump adviser optimistic about trade deal with China
- 5 years ago
The world's two biggest economies have been working to end their months-long trade dispute... and the good news is that the U.S. and China are now quite optimistic about the two sides being able to reach a trade deal.
Kim Hyesung reports.
White House economic adviser Larry Kudlow insists the Trump administration is making headway in its trade negotiations with China.
In an interview with Fox News on Sunday,... Kudlow said he remains bullish on the prospect of a U.S.-China trade deal being finalized sometime in April, brushing off reports suggesting lower prospects for a deal and push back from Beijing.
Kudlow also downplayed a report that Chinese President Xi Jinping canceled plans to meet President Trump at Mar-a-Lago in Florida, saying there can't be a cancellation of something that wasn't scheduled.
Washington and Beijing have been locked in an escalating trade war for months, levying billions of dollars in tit-for-tat duties on each other's products.
Following high level talks in Washington late last month,... the two sides agreed to delay a March 1st deadline to impose additional tariffs on Chinese goods....and have been hammering out a trade deal that addresses market access, tech transfers and intellectual property rights.
Over the weekend, the Governor of the People's Bank of China, Yi Gang, who has been part of the trade talks, said the U.S. and China have reached consensus on many crucial issues, including currency.
"China will absolutely not use the exchange rate to boost its exports, nor will the country use exchange rates as a tool in trade frictions, which we have promised not to do."
China's Commerce Minister Wang Shouwen also said... the two sides are working day and night to reach a compromise.
While striking an optimistic tone,... he said any deal achieved must be equal and fair... and all tariffs must be removed by both sides.
Experts say how the two sides agree on tech transfers and make the deal enforceable will be key.
Kim Hyesung, Arirang News.
Kim Hyesung reports.
White House economic adviser Larry Kudlow insists the Trump administration is making headway in its trade negotiations with China.
In an interview with Fox News on Sunday,... Kudlow said he remains bullish on the prospect of a U.S.-China trade deal being finalized sometime in April, brushing off reports suggesting lower prospects for a deal and push back from Beijing.
Kudlow also downplayed a report that Chinese President Xi Jinping canceled plans to meet President Trump at Mar-a-Lago in Florida, saying there can't be a cancellation of something that wasn't scheduled.
Washington and Beijing have been locked in an escalating trade war for months, levying billions of dollars in tit-for-tat duties on each other's products.
Following high level talks in Washington late last month,... the two sides agreed to delay a March 1st deadline to impose additional tariffs on Chinese goods....and have been hammering out a trade deal that addresses market access, tech transfers and intellectual property rights.
Over the weekend, the Governor of the People's Bank of China, Yi Gang, who has been part of the trade talks, said the U.S. and China have reached consensus on many crucial issues, including currency.
"China will absolutely not use the exchange rate to boost its exports, nor will the country use exchange rates as a tool in trade frictions, which we have promised not to do."
China's Commerce Minister Wang Shouwen also said... the two sides are working day and night to reach a compromise.
While striking an optimistic tone,... he said any deal achieved must be equal and fair... and all tariffs must be removed by both sides.
Experts say how the two sides agree on tech transfers and make the deal enforceable will be key.
Kim Hyesung, Arirang News.