Kudlow: China has not 'come far enough' on trade negotiations

Kudlow: China has not 'come far enough' on trade negotiations
© Greg Nash

White House economic adviser Larry KudlowLawrence (Larry) Alan KudlowMORE said Sunday that China has "not come far enough" on trade negotiations, but that discussions will continue.

“We want to be as sure as we can be, we don’t think the Chinese have come far enough,” Kudlow said on "Fox News Sunday." “The talks will continue, and I will say this, there’s a G20 meeting in Japan toward the end of June, the chances President TrumpDonald John TrumpChelsea Clinton announces birth of third child Ukrainian officials and Giuliani are sharing back-channel campaign information: report Trump attacks 'the Squad' as 'racist group of troublemakers' MORE and President Xi will get together at that meeting are probably pretty good.”

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“The problem is two weeks ago in China there was backtracking by the Chinese… we can’t forget this, this is a huge deal with the broadest scope and scale the two countries have had before."

“But we have to get through a lot of issues, for many years China trade was unfair… one of the sticking points right now is we would like these corrections in an agreement which is codified by law in China.”

The U.S. and China appeared close to a deal on their year-long trade war last week, until President Trump ordered a steep increase in tariffs on Chinese goods after top Beijing officials reportedly backtracked on previous agreements with the White House.

Chinese negotiators reportedly tried to reverse their vows to address issues such as theft of trade secrets and intellectual property.

On Friday, Trump raised tariffs from 10 percent to 25 percent on $200 billion worth of Chinese imports.