President Donald Trump wants a trade agreement with China but it must be “the right deal,” White House economic advisor Larry Kudlow said Tuesday.
Kudlow’s remarks came as markets attempted a recovery from Monday’s deep sell-off, prompted by a sudden escalation in the US-China trade since last week.
“The president was not happy with the progress” of talks in Beijing earlier this month, Kudlow told CNBC. “The president is defending the American economy” against “a lot of unfair trading practices.”
Trump on Thursday announced new tariffs on another $300 billion in Chinese imports and on Monday responded to a drop in value of the yuan by formally branding Beijing a currency manipulator. Beijing on Monday also said it was cutting off imports of US agricultural goods.
Kudlow said Trump “would like to continue negotiations, he would like to make a deal, it has to be the right deal for the United States.”
After face-to-face meetings in Shanghai last week, US and Chinese officials are due to meet in Washington next month.
However, the deepening acrimony has convinced investors the chances of a near-term resolution to the battle are increasingly slim — adding to worries the trade fight is exacerbating a global economic slowdown.
Since last year, the United States and China have exchanged punitive tariffs on more than $360 billion in two-way merchandise trade.
Should they take effect, the punitive import duties Trump announced last week would mean all goods trade between the world’s top two economies is subject to tariffs in the year-long trade war.
‘Mafia in action’: Experts concerned by Giuliani and son walking into White House during impeachment vote
Legal experts are perplexed and expressing concern on the news Rudy Giuliani, who reportedly is under criminal investigation, walked into the White House just as the Judiciary Committee was passing Articles of Impeachment against President Donald Trump.
CNN's Jim Sciutto and others posted this photo around 10:30 AM Friday morning:
Trump has been emboldened, not chastened, by impeachment. His personal attorney is at the WH right now after his trip to Ukraine to continue to dig up dirt on Joe Biden, the heart of this impeachment itself. And GOP is no longer lodging any protest. This is the reality for 2020. pic.twitter.com/Qhfs1CyJjD
The View urges Dems to go after Ivanka: ‘The Democrats need to get tough’
On Friday's "The View," a discussion on the attack Rep. Matt Gaetz (R-FL) launched at former Vice President Joe Biden's son Hunter for getting his Ukraine job because of who his dad was at the time, turned to Ivanka Trump who has been cashing in while working in the White House.
With co-host Ana Navarro mentioning that Gaetz -- who attacked the younger Biden for his substance abuse problem while disregarding his own problems after being pulled over for a DUI which was dismissed on technical grounds -- was the son of a prominent Florida politician, co-host Joy Behar delivered some blunt talk about Hunter Biden and the first daughter.
GOP lawmaker short circuits when confronted with basic facts about Trump’s actions
Rep. Debbie Lesko (R-AZ) on Friday went into deep denial when CNN's Manu Raju asked her if she thought it was appropriate for President Donald Trump to ask the head of a foreign government to launch an investigation into his rivals.
During an interview with Raju, the CNN reporter asked the Republican lawmaker, "Why is it ever OK for an American president to ask a foreign power to investigate a political rival?"
Lesko responded by completely denying Trump had ever done such a thing.
"He didn’t!" she replied. "He didn’t do that."
"He did ask Zelensky," Raju informed her.