Supreme economic adviser to US President Donald Trump, Larry Kudlow, said on Thursday he hopes that the upcoming trade talks with China would bring progress, but that resolving US complaints is “a long process”.
Trump is preparing a delegation to China to prevent a trade war. He has threatened a new round of $ 100 billion tariffs on Chinese products that could target mobile phones, computers and other consumer goods. China retaliated against a first round of $ 50 billion in US tariffs.
Kudlow, known for trading, said he will come to Beijing with Trump trade advisor Peter Navarro, a China skeptic, and US sales representative Robert Lighthizer for talks with US Treasury Secretary Mnuchin. He declined to comment on when the delegation would leave.
“We represent the interests of the United States and we have complaints – we made no secret of it – so we want to resolve these complaints,” Kudlow told reporters in the White House.
“It’s our hope that we can achieve something, it will not be final, it will not be the end of the line, it’s a long process,” he said.
Kudlow met on Wednesday with Tim Cook, managing director of Apple Inc., whose company manufactures products in China and has calmed down during the recent trading tensions with Beijing.
Kudlow declined to comment on whether Cook Trump had asked for changes in his trade policy with China and whether Cook had argued that tech companies could be hurt by additional duties.
“Mr. Cook has always and before admitted that China needs to make some big changes,” Kudlow said. “He’s obviously sensitive to all the problems of forced technology transfers and IP theft.”
Trump has also mandated the Ministry of Finance to consider new investment restrictions for China. When asked where these suggestions stood, Kudlow said, “Everything is on the table.”
In a previous CNBC interview, Kudlow also said that the Trump government wants concessions from Europe regarding automobiles when considering granting the EU a waiver of announced steel and aluminum tariffs before May 1.