Kudlow: No trade deal with China is 'imminent'

White House economic advisor Larry Kudlow says discussions with China over trade aren't progressing.

On Sunday, the U.S. and Canada reached a new trade deal to replace the North American Free Trade Agreement. Kudlow was asked about the implications of the new deal to the trade conflict with China.

"It sends an important message to China, where we're trying to negotiate on trade, North America is together," he said in a Fox Business interview Monday.

But Kudlow said a deal with the Asian country is not close.

"Nothing is imminent on China," he said. "I think there's discussions going on. No, I wouldn't say it was imminent."

The economic advisor said President Donald Trump is not satisfied with the progress of the trade talks with China.

The Trump administration's latest tariffs of 10 percent on $200 billion of imports from China took effect last week. Trump, in a Sept. 17 statement, said the tariffs would rise to 25 percent on Jan. 1, 2019.

The advisor also said Trump may meet with Chinese President Xi Jinping at the G20 meeting in Buenos Aires, Argentina later this year.

The G20 meeting will be held on Nov. 30 to Dec. 1.

Kudlow is director of the National Economic Council and is one of Trump's top advisors.

Let's block ads! (Why?)

from Top News & Analysis https://ift.tt/2xZxlC4