Wednesday, White House economic adviser Larry Kudlow says there’s “hope” that President Trump and Chinese President Xi will meet soon to finalize an agreement officials are optimistic a trade deal will be forged soon.
“I don’t want to go into a timeline. There is hope that perhaps by the end of this month or early April, the 2 leaders will get together and finalize an agreement,” said Larry Kudlow.
“Don’t hold me to that because it’s not written in cement yet but we must hear back from them. The documents are very clear, we have to get signoff from the Chinese politicians,” said Mr. Kudlow.
“The meetings 2 weeks ago went better than we thought, the documents that we put together with China’s Top guy went further and deeper than we thought possible, that includes all the issues, the intellectual property theft issues, the ownership issues, commodities, perhaps most importantly from the standpoint of investor Bob Lighthizer who has done such a great job, enforcement issues,” Mr. Kudlow said.
“A multi-layer enforcement process that at least for now says if China does not live up to its agreement, we have the right not only to keep tariffs but to raise tariffs and they will not retaliate. That is breakthrough stuff,” he said;
“I think China has been hurt more than we have. The stock market crashed for a while, our stock market went down, had its correction, came back on better news. There’s a lot of good economic data out there, China or no China,”
“Wages are rising, it’s the best blue-collar manufacturing story since Ronald Reagan — these are terrific things. The rollback of red tape and deregulation, the trade reforms, the energy dominance is creating exactly the kind of 3%+ growth we anticipated.
The US economy as 1 of the biggest achievements of Donald Trump’s term and he declared last July that his administration had “accomplished an economic turnaround of historic proportions.”
On the campaign trail, President Trump boasted that he could boost annual economic growth to 4%, a goal that analysts always said was not achievable.