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Larry Kudlow, the White House’s top economic adviser, says Chinese President Xi Jinping is standing in the way of a resolution to its trade fight with the United States.
“I believe from my experience–two days in Beijing, a day in Washington, D.C., and a long dinner in Washington, D.C. I believe China wants to make a deal.
But–in - Moment - Deal - Kudlow - Wednesday
But–in so far as we know–president Xi, at the moment, does not wish to make a deal,” Kudlow said Wednesday at CNBC’s Delivering Alpha investing conference in New York.
Kudlow indicated that the Chinese government was divided, with some of its leading economic advisers favoring making a deal while its president’s opposition ultimately blocks any progress despite multiple rounds of negotiation between the two countries.
Basis - Point - Request - Something - Theft
“They haven’t responded at all. Not one basis point to our request to do something about the theft of intellectual property and the forced transfer of our technology,” Kudlow says. “Our sources are telling us that the Chinese government realizes they are wrong. I hear this repeatedly from my sources, and yet as of today, they have refused to act on it. They know they are wrong, they know the rest of the world knows they are wrong…And something has to be done here.”
Kudlow traveled with the delegation of U.S. economic and trade officials to Beijing in May and participated in meetings in Washington, D.C. that followed. Initially, the U.S. expressed optimism about the meetings but recent comments from the administration have been much less positive. President Trump recently instructed trade officials to prepare a list of $200 billion of additional tariffs that could be put on imports from China.
Xi - Game - Ball - Court - Business
“Xi is holding the game up. He needs to move. We are waiting for him. The ball is in his court. The ****-for-tat business,...
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