“U.S. could lift some tariffs on China for a deal”:says Kudlow

The United States may drop some tariffs for China, leaving others in the country as part of an enforcement mechanism on a US trade deal, White House economics adviser Larry Kudlow said on Thursday.

While China and the United States negotiated a trade deal to ease eight months of tension between the two largest economies in the world. Kudlow made comments to reporters at the periphery of the US Export and Import Bank’s annual conference.

Kudlow said, “We have to see what the record is, and we will not give up our leverage, but only to clarify, that does not mean that all the fees will be kept in place there.”

US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin arrived on Thursday in Beijing for a new round of talks with Chinese officials. Negotiations will be followed by a round held in Washington next week.

Talks are the first time that trade negotiators have had face to face talks since both sides have lost an initial goal to hold a summit between US President Donald Trump and Chinese President Xi Jinping to conclude an agreement late March.

Meanwhile, China has made proposals for a range of issues that go further than it had before, including compulsory technology transfer, US officials told Reuters on Wednesday./Investing.com

 

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