Trump open to China trade deal: White House
President Trump is optimistic that a trade deal is possible when he meets this week with Chinese President Xi Jinping, the top White House economic adviser said Tuesday.
“In [Mr. Trump’s] view, there is a good possible that a deal can be made and he is open to that,” said Larry Kudlow, director of the president’s National Economic Council.
He stressed, however, that Mr. Trump would not back off his demands for major trade reforms from Beijing and was ready to impose more tariffs on Chinese goods.
Mr. Trump and Mr. Xi are set to face off at a dinner meeting Saturday in Argentina, where both leaders will be attention the G-20 summit.
Mr. Kudlow said that America is in the economic catbird seat heading into the dinner meeting.
“We are in very good shape. China, not so good,” he said of the country’s economies.
The president is pressing China to end unfair trade practices such as theft of intellectual property, forced transfer of technology from U.S. companies doing business in China, and high tariffs and other trade barriers on American goods.
“If these conditions are not met and dealt with, the president has said he is perfectly happy to stand on his tariff policies,” Mr. Kudlow said.
Mr. Trump has said he is ready to increase tariffs on $200 billion of Chinese goods to 25 percent on Jan. 1 if Beijing doesn’t move toward a deal.
He also threatened to follow up with tariffs on another $267 billion worth of Chinese goods if China doesn’t change its ways.