United States stocks are trading above and below unchanged levels at the opening

Cornelia Mascio
Luglio 21, 2018

Currently the primary negotiator on the Chinese side is Liu He (劉鶴), the Vice Premier of the State Council, however there are now reports that Xi Jinping and the CCP may be seeking to remove him from the role of lead negotiator, after he reportedly sought to contravene Xi's position on reforming China's trade policies related to technology transfers.

Kudlow's remarks, delivered at the CNBC Institutional Investor Delivering Alpha Conference, come as many from Wall Street to Washington have said the economic recovery - in its ninth year - is long in the tooth.

Trump is "dissatisfied with China" and is "keeping the pressure on", Kudlow said in an interview on CNBC, the television network where he worked for before joining Trump's staff.

"We have confidence and enough capabilities to safeguard our legitimate interests, and make joint efforts with other countries to maintain worldwide rules and the multilateral trading system", Hua said.

He also commented on the talks scheduled for next week between Trump and European Commission President Jean-Claude Juncker.

Mr. Kudlow said the current administration is trying to pull America out of the "growth recession" it has been mired in since at least the Y 2008 financial crisis.

So far Trump has been vague about what exactly China needs to offer in the form of a trade deal in order for the barriers to come down, but Kudlow offered a laundry list of items that the U.S. would need to see in order to eliminate the tariffs. "The ball is in his court".

Kudlow said China could resolve the dispute "this afternoon" by simply cutting tariffs, eliminating non-tariff barriers, and stopping the practice of stealing USA technology through forced transfers. The administration said that the tariffs were necessary to punish China for their theft of United States intellectual property and force the government to reform their economic practices. Trump has also announced 10 percent tariffs on an additional $200 billion of Chinese products that could be imposed as early as next month. Kudlow said, however, that he could not provide further details.

China hasn't "responded at all, not one basis point, to our request to do something about the theft of intellectual property and the forced divestiture of our technology", said Kudlow.

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