White House National Economic Advisor Larry Kudlow said on Friday that he does not expect a breakthrough deal from next week's trade talks between the United States and China
WASHINGTON (Pakistan Point News / Sputnik - 26th July, 2019) White House National Economic Advisor Larry Kudlow said on Friday that he does not expect a breakthrough deal from next week's trade talks between the United States and China."I wouldn't expect any grand deal," Kudlow told CNBC. "Talking to our negotiators, I think they're going to reset the stage and hopefully go back to where the talks left off last May."
Kudlow said that Washington and Beijing need to address key structural issues such as intellectual property theft and forced transfers of technology.
On Wednesday, the White House said US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will travel to Shanghai next week to continue trade negotiations with their Chinese counterparts on July 30.
In June, US President Donald Trump and Chinese President Xi Jinping agreed to a 90-day truce during which they would refrain from imposing additional tariffs and will re-launch negotiations to resolve the trade war.
The United States and China have been engaged in a trade war since June of 2018, when Trump announced tariffs on $50 billion worth of Chinese imports in a bid to balance the trade deficit. Since, the two countries have imposed on the other several rounds of tit-for-tat tariffs.
