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White House economic adviser: US, China 'getting close' on trade agreement

White House economic adviser: US, China 'getting close' on trade agreement
© Aaron Schwartz

White House economic adviser Larry KudlowLarry KudlowMORE on Thursday said that a trade agreement between China and the United States is growing closer to being finalized, Reuters reports.

Kudlow told the audience at a Council on Foreign Relations event that the two sides are "getting close," to a deal, saying that the countries have been recently engaged in "very constructive" talks.

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“The mood music is pretty good," he continued, "and that has not always been so in these things.”  

The top two global economies have been embroiled in a trade war for more than 15 months, with both country's feeling the sting of opposing tariffs. 

President TrumpDonald TrumpBlinken holds first calls as Biden's secretary of State Senators discussing Trump censure resolution Dobbs: Republicans lost in 2020 because they 'forgot who was the true leader' MORE had hoped to sign "phase one" of the deal at the Asian-Pacific Economic Cooperation summit in Chile this month, but that possibility became unworkable when Chile withdrew from hosting the event earlier in the month, Reuters reports.

Last week, Trump said he could rollback some tariffs on China, but ruled out a total rollback of the levies.