Kudlow: US 'Looking for a Deal' With China on Trade

Kudlow: US 'Looking for a Deal' With China on Trade

The United States is not seeking a trade war with China and top USA officials are looking to make a deal with Beijing, White House economic adviser Larry Kudlow said on Tuesday as talks between the two nations were set to resume.

"Unilateral imposition of tariffs prior to any meaningful negotiations with China will raise charges that the United States has ignored its WTO commitments", the NFTC said in its comments submitted last week, adding additional tariffs are "extremely likely" to increase the harm to American manufacturers, service providers and consumers. "We're still very far apart", U.S. Ambassador to China Terry Branstad said, according to Reuters. "It's not clear, of course, if he's planning to really reverse it or think of a solution in a larger context, but it is something that is just out of the norm", said Amanda DeBusk, the chair of the global trade and government regulations practice at the firm Dechert, LLP.

In a later tweet, Trump suggested the US and China were moving forward on the trade negotiations, but it was not clear how the ZTE case would fit into the bigger picture.

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U.S. Commerce Secretary Wilbur Ross leaves his hotel in Beijing, Friday, May 4, 2018. Washington has proposed imposing tariffs on up to $150 billion in Chinese products.

President Donald Trump has stepped into the row surrounding the seven year ban on U.S. companies supplying Chinese telecommunications maker ZTE with software and components. China counterpunched with tariffs on a range of US products, including bourbon and blue jeans.

Ikenson said the administration's focus on the $200 billion was "silly", adding that if the US accepts China's offer to import more goods, Trump can "claim mission accomplished and turn the page". Officials from Beijing are expected to arrive in D.C. armed with a list of items they will offer to import from the U.S.to meet that goal, The Wall Street Journal reported. -China trade talks in Beijing earlier this month where the two countries failed to reach an agreement on the long list of USA demands.

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Washington listed the items from China it proposes will be hit with an additional duty of 25% but within hours, Beijing hit back, announcing its own plans to levy a 25% tariff on U.S. imports that included beef, soybeans and whiskey.

Trump is seeking to cut the chronic US trade deficit by $100 billion and gain concessions over the policies that foreign companies say force them to share technology in order to gain market access.

The financial news headlines have been dominated by articles related to China in recent months.

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"The United States and China are the two biggest economies in the world".

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