Kudlow: 'Furthest' China has gone on trade deal
117 views · Published 8 December 2018 · 2:52 · Indexed 5 October 2026
Channel: AP Archive · 2018 · News & Politics
(3 Dec 2018) White House economic adviser Larry Kudlow said Monday he's "hopeful" about a possible trade pact with China after President Donald Trump and Chinese President Xi Jinping agreed to a 90-day cease-fire on tariffs while the two countries negotiate. Speaking to reporters outside the White House, Kudlow acknowledged the "history with China promises is not very good." But he said, this is "the furthest and most specific" that negotiators have come, which is providing the administration some optimism. Kudlow said the chemistry between Xi and Trump is "remarkable," adding that he believes Xi us being "candid and truthful" in the negotiations. The tariff cease fire deal agreed on by Washington and Beijing on Saturday in Argentina is to last for at least 90 days to allow time to smooth out a dispute over Chinese technology policies that the U.S. and other trading partners consider predatory. Trump agreed to hold off on plans to raise tariffs on $200 billion in Chinese goods, which were supposed to kick in on Jan. 1. In return, Xi agreed to buy a "very substantial amount" of agricultural, energy and industrial products from the U.S. to reduce its large trade deficit with China, the White House said. Kudlow and Treasury Secretary Steven Mnuchin also said there was agreement on removing auto tariffs, though both acknowleged there weren't any firm commitments. Kudlow said he expects tariffs on auto imports into China to go "all the way back," to zero but said that is only his assumption. Find out more about AP Archive: http://www.aparchive.com/HowWeWork Twitter: https://twitter.com/AP_Archive Facebook: https://www.facebook.com/APArchives Instagram: https://www.instagram.com/APNews/ You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/d9e92b5be614917e5345d424c2e88129
