Kudlow: China Agrees to Reduce Trade Deficit, Buy U.S. Goods Kudlow: China Agrees to Reduce Trade Deficit, Buy U.S. Goods – NTK Network

Kudlow: China Agrees to Reduce Trade Deficit, Buy U.S. Goods

The president's economic adviser claimed that the two countries are moving closer to a fairer trade agreement.

By NTK Staff | 05.20.2018 @11:48am

Larry Kudlow, President Trump’s chief economic adviser, told CBS’s Margaret Brennan on Sunday that U.S. negotiators have “made a lot of progress” in obtaining Chinese trade concessions.

“We’re going to substantially reduce the U.S. trade gap,” Kudlow said. “We want China to open up markets, lower tariffs, lower non-tariff barriers – give us a chance. We also want China to change their behavior with respect to technology transfers and also the theft of intellectual property rights.”

Beijing agreed in principle to a number of U.S. demands, releasing a statement with the United States on Saturday. In it, China pledged to increase its purchase of U.S. goods.

If they don’t live up to their promises, Kudlow said, Trump’s tariffs are still on the table.

And Treasury Secretary Steve Mnuchin welcomed the news, telling “Fox News Sunday” that “the trade war [is] on hold.”

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