W.H. economic adviser Larry Kudlow: U.S. needs to ‘kick butt’ to get trade deal with China
White House chief economic adviser Larry Kudlow on Thursday defended President Donald Trump's combative approach to trade negotiations, but acknowledged there aren’t any "formalized" plans yet for a meeting with Chinese President Xi Jinping at the G-20 leaders meeting later this month.
"You know how you get from here to there, Fred? You kick some butt," Kudlow said during an on-stage conversation with Fred Bergsten, the president emeritus of the Peterson Institute for International Economics. "You kick some butt, in my best economic analytical quantitative regression analysis.
"We didn't start this," Kudlow said. "What I will call the China problem has been going on for a long time, several decades. But President Trump is the first guy in these several decades to take strong actions to remedy a very unbalanced trading relationship where the Chinese have violated international trade law."
So far, Trump has imposed a 25 percent tariff on $250 billion worth of Chinese goods and has initiated action to impose the same duty on almost all remaining Chinese products, worth about another $300 billion.By signing up you agree to receive email newsletters or alerts from POLITICO. You can unsubscribe at any time.
Trump told reporters on Wednesday that he has no date in mind for when he will decide whether to impose additional tariffs on China.Trade talks between the two countries broke down in May after Trump accused the Chinese of backsliding on some previous commitments. However, both leaders are expected to attend the June 28-29 G-20 meeting in Osaka, Japan, raising hopes for a bilateral meeting to get negotiations back on track.
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