"We are getting three and it may be a four for a quarter or two, it may be plus", said Larry Kudlow, assistant to the president for economic policy and director of the National Economic Council, at CNBC's 2018 Delivering Alpha Conference. Kudlow said of the current negotiations that Liu He is reform minded, but Xi Jinping's inflexibility has stalled trade talks.
Throughout it all, Trump has maintained a good relationship with Xi and they are working together to thwart North Korea's nuclear threat, said Kudlow. China could end the US tariffs by providing a more satisfactory approach. "I don't think President Xi has any intention of following through on the discussions we've made".More news: Cohen recorded Trump discussing payment to ex-Playmate
Trump, speaking to reporters at the White House, said that European Commission President Jean-Claude Juncker's visit will discuss auto tariffs, which he cited as "the big one" among U.S. -EU trade irritants.
Kudlow added that Trump will keep putting pressure on the country.
Speaking on the rocky negotiations, Kudlow insisted that the US administration was waiting on a move from Xi, saying that "the ball is in his court".More news: Oil dips as Libyan exports resume
On July 6, USA authorities placed $34 billion worth of tariffs on Chinese products after trade talks between the two nations reportedly ended without a settlement. "The ball is in his court". Xi's top economic adviser, Liu He, appears willing to move forward on a deal, said Kudlow.
The US has threatened to hit another $200 billion worth of Chinese imports with tariffs because of China's retaliation to the previous round of tariffs.
These included cutting tariff and non-tariff barriers to imports, ending the "theft" of intellectual property and allowing full foreign ownership of companies operating in China, Kudlow said. On the note of trade, Kudlow said he wasn't a fan of blanket tariffs, reiterating his standard position on trade and tariffs.More news: SingHealth cyber attack: SMS notifications sent to more than 700000 patients
He said Juncker would bring a trade offer to Trump next week, but did not provide further details.