White House economic adviser Larry Kudlow said on Sunday that the Trump administration never anticipated reaching a trade deal with China and that there was only a "communique" between the two countries.
"There's no agreement for a deal. We never anticipated one. There's a communique between the two great countries, that's all," Kudlow told ABC's George Stephanopoulos on "This Week."
NEC Dir. Larry Kudlow tells @gstephanopoulos following trade talks with China: "There's no agreement for a deal, we never anticipated one, there's a communique between the two great countries. That's all." #ThisWeek pic.twitter.com/oj6goENJFA— This Week (@ThisWeekABC) May 20, 2018
"And in that communique, you can see where we're going next. For example, Commerce Secretary Wilbur RossWilbur Louis RossMomentum builds to prohibit lawmakers from trading stocks Census memo notes 'unprecedented' Trump administration meddling: report Holding defiant Trump witnesses to account, Jan. 6 committee carries out Congress's constitutional role MORE going over to China. He's going to be looking into a number of areas where we're going to have greatly significant increases, energy, for example, [liquefied natural gas], for example, agriculture, manufacturing," he continued.
Kudlow's comments come after the two countries wrapped up trade talks in Washington on Friday following months of increased tensions.
The Trump administration had proposed stiff tariffs on $150 billion in Chinese products last month. In turn, Beijing threatened duties on $50 billion in U.S. products. The tit-for-tat has raised concerns of a looming trade war between the world's two largest economies.
Despite the tensions from last month, Kudlow said on Sunday that progress was made during the recent meetings.
"We made a lot of progress here in Washington and built on what happened in China a couple weeks back. The president is in a very positive mood about this," he said.
"So, I myself, am very encouraged, because, look, at the end of the day, growth, this is good for growth. This helps our farmers, this helps our ranchers, this helps our businesses."