At the same time he noticed that in case all goes well with trade talks with Beijing, the US may lift tariffs against China. Kudlow added though that no trade plan has been developed by US officials for China so far.
In an interview with CNBC, White House adviser Larry Kudlow has warned that in case talks between the US and China on trade don’t go well, US President Donald Trump “could pull the trigger” on additional tariffs on Chinese goods.
“It depends on how the talks go. He has said that he could pull the trigger on about $265 billion. We don’t know what the tariff rate might be,” he said.
Kudlow added that he is not as optimistic about reaching a trade deal with Beijing as he was earlier. Kudlow called the upcoming meeting between Trump and Chinese President Xi Jinping at the G20 summit “definite” and noted that the trade dispute between the countries will be on the meeting’s agenda.
The White House adviser shared that if trade talks between Washington and Beijing improve, US tariffs on Chinese imports could be lifted, but so far Trump hasn’t ordered US officials to start developing a draft trade agreement between the countries. At the same time, Kudlow noted that the US hasn’t received any trade offers from Beijing.
“Look, there’s no massive movement to deal with trade,” Kudlow said.
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The trade dispute between the US and China began after Washington imposed hefty tariffs on Chinese steel and aluminum on April 2018, prompting a mirror response from Beijing. Throughout the year the two nations have exchanged several rounds of mutual tariffs worth billions of dollars. The US is urging China to negotiate a new “fair” trade deal.