Larry Kudlow: China deal 'close' as Beijing cuts some tariffs

Marco Green
December 7, 2019

The president, who campaigned on getting tough on Beijing over its trade practices and eventually cutting what he has promised for four years would be a paradigm-shifting deal, offered this pithy assessment of talks toward a "phase one" pact he first announced on October 11: "Moving along well". Trump has suggested he would postpone the tariffs if a deal is struck.

In an interview with Fox Business on Tuesday, Vice President Mike Pence said that the president is leveraging the strong US economy in trade negotiations with China and around the world.

A partial trade pact with China remains close at hand, a top White House economic aide said Friday, days before another round of U.S. tariffs is due to take effect.

This was followed by upbeat trade-related comments from the US President Donald Trump, saying that talks with China were going very well.

While officials from both nations have emphasised repeatedly that talks are making progress and they remain in constant contact, the negative rhetoric on both sides recently has heightened fears that the talks could drag on.

Ross said he was optimistic about a fruitful trade negotiation with Beijing, given the economic problems in China, "particularly the hollowing out of supply chains".

The trade negotiations with China, the president declared, are at a "critical stage".

"The president's objective always has been to get the right deal independently of when, or anything else like that".

The 15% tariffs are scheduled to kick in December 15 on $160 billion in Chinese imports.

Both Trump and Ross said that the rising tensions in Hong Kong, where anti-government protests have persisted for almost six months, has complicated the trade talks.

On Monday, the Chinese regime said they would suspend U.S. Navy visits to the port of Hong Kong. Later on, France's finance minister said the European Union was ready to retaliate. "I watch jobs. Jobs are what I watch; I watch making the proper deal", he said.

Dilxat Raxit, spokesman for the World Uyghur Congress, said in a statement the House bill is an important action opposing "China's continued push of extreme persecution" and that the organisation looks forward to Trump signing it into law.

"Well, we'll have to see". That will extend penalties to nearly everything the United States buys from China. But it doesn't address basic disputes about trade, Chinese industrial subsidies and technology policy.

Other reports by Click Lancashire

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