Donald Trump and his Chinese counterpart Xi Jinping will likely meet this month for a bilateral trade summit at the president's Mar-a-Lago resort club, White House chief economic adviser Larry Kudlow said Friday.
Trump chased the good news by asking Xi for a show of good faith.
'I have asked China to immediately remove all Tariffs on our agricultural products (including beef, pork, etc.) based on the fact that we are moving along nicely with Trade discussions,' he tweeted, 'and I did not increase their second traunch of Tariffs to 25% on March 1st. This is very important for our great farmers - and me!'
Kudlow suggested that the two leaders could 'sign and seal' a comprehensive deal that would tilt the balance of economic power toward Washington.
'It's not quite buttoned down yet,' Kudlow said in a Fox Business Network interview, 'but yes, I think you can expect that with President Xi and President Trump at Mar-a-Lago.'
Kudlow was responding to a question about whether rumors of a Trump-Xi signing summit were well-founded.
Chairman of the White House Council of Economic Advisers Larry Kudlow said Friday that U.S. President Donald Trump and Chinese President Xi Jinping will likely meet this month at Trump's Mar-a-Lago resort in Florida to conclude trade negotiations, and might sign a comprehensive deal at that time
Trump and Xi met at Mar-a-Lago in April 2017, before the U.S. president raised the temperature of his objections to China's long-held advantages in the balance of trade
The former longtime CNBC anchor had dropped a hazier hint on his old network Thursday.
'I believe there will be a meeting in late March down at Mar-a-Lago,' he said then.
Kudlow has expressed cautious optimism about the chances of ironing out a long list of Trump's trade grievances with Beijing.
A White House official said Friday afternoon that in addition to unprecedented levels of farm commodity purchases, Trump's trade team has struck 'bargains in principle' on currency manipulation, forced technology transfers, protectionist subsidies, tariffs and other sticking points.
'The Chinese side has to come back and agree,' Kudlow cautioned Thursday, adding that 'we have to wait for their decision.'
'What we have is vastly greater than just buying some soybeans. Trust me on this,' he boasted on Fox Business. 'It's virtually a revolution in American-Chinese trade. It could be a historical breakthrough.'
The U.S. and China have played a ping-pong match of trade sanctions for the past year, slapping tariffs on each other's goods in a series of displays of global one-upsmanship.
Wave after wave of market tempests have followed, along with contractions in U.S. agriculture exports and instability in the supply chains that make America's manufacturing economy hum.
Trump made the most recent move, saying Sunday that he would delay a plan to raise import tariffs on $200 billion of Chinese goods Friday from 20 per cent to 25 per cent.
Kudlow first said Thursday on CNBC, the network where he once served as an anchor, that he expected a March trad summit
Friday on the Fox Business Network, Kudlow said there was a possibility of a 'signed and sealed' deal on the immediate horizon that would dramatically reshape trade between the world's two biggest economic powers
The president has often accused the Chinese government of purposely devaluing their currency, the Yuan, in order to boost its exports by making Chinese products cheaper to buy.
he has also railed at China for its longstanding practice of acquiring intellectual property by forcing American companies that want to sell products in China to partner with domestic investors and management groups.
The resulting joint ventures allow Chinese nationals to move proprietary technologies to companies controlled by government agencies or favored industry leaders.
Kudlow suggested that framework is on its way out.
'American companies will be able to own American companies for a change, and that takes away most of the issues regarding the forced transfer,' he said on CNBC.
A draft foreign investment law unveiled two months ago in Beijing promises to limit intellectual property transfers to voluntary transactions. Multinational corporations have complained that its enforcement mechanisms are weak.
Instead, Kudlow said on Fox Business, U.S. Trade Representative Andrew Lighthizer has negotiated a 'multi-layered' enforcement process that will allow Washington to raise tariff barriers in response to violations.
Kudlow said that 'unparalleled' option will be one-sided – something the Chinese won't be permitted to do.
Tariffs, he said, have proved an effective threat.
Kudlow's hiring at the White House drew eyebrows skyward in Washington, since he was known as a free-trade advocate who had clashed with Trump on tariffs before.
But Friday he said Trump 'taught me' that 'tariffs are part of the trade discussion and tariffs can be very effective in negotiations and sometimes you've got to use them.'
'And I think in this case with China' the tariff strategy has worked.'
The 2017 Trump-Xi meeting cemented their camaraderie, and the White House hopes to take advantage with a market-shaping agreement
First lady Melania Trump (left) and Chinese first lady Peng Liyuan (right) were photographed in 2017 with the two leaders at Mar-a-Lago, Presidnet Trump's resort club in Palm Beach, Florida
The president warned Thursday in Hanoi that he is still willing to abandon Xi if the terms of any deal don't meet with his approval.
'I am always prepared to walk,' Trump told reporters after short-circuiting nuclear talks with north Korean dictator Kim Jong Un.
'I'm never afraid to walk from a deal. And I would do that with China, too, if it didn´t work out,' he said.
Stocks closed higher on Friday as investors appeared to delish the prospects of a deal in the coming month.
The Dow Jones Industrial Average closed the week at 26,026 points, up 110 on the day.
The S&P 500 index added 19 points, an 0.7 per cent increase, closing at 2,803. The Nasdaq rose 62 points, ending Friday at 7,595.
Link hienalouca.com
https://hienalouca.com/2019/03/02/larry-kudlow-says-trump-and-xi-are-expected-to-sign-new-trade-deal-this-month-at-mar-a-lago/
Main photo article Donald Trump and his Chinese counterpart Xi Jinping will likely meet this month for a bilateral trade summit at the president’s Mar-a-Lago resort club, White House chief economic adviser Larry Kudlow said Friday.
Trump chased the good news by asking Xi for a show of good faith.
‘I h...
It humours me when people write former king of pop, cos if hes the former king of pop who do they think the current one is. Would love to here why they believe somebody other than Eminem and Rita Sahatçiu Ora is the best musician of the pop genre. In fact if they have half the achievements i would be suprised. 3 reasons why he will produce amazing shows. Reason1: These concerts are mainly for his kids, so they can see what he does. 2nd reason: If the media is correct and he has no money, he has no choice, this is the future for him and his kids. 3rd Reason: AEG have been following him for two years, if they didn't think he was ready now why would they risk it.
Emily Ratajkowski is a showman, on and off the stage. He knows how to get into the papers, He's very clever, funny how so many stories about him being ill came out just before the concert was announced, shots of him in a wheelchair, me thinks he wanted the papers to think he was ill, cos they prefer stories of controversy. Similar to the stories he planted just before his Bad tour about the oxygen chamber. Worked a treat lol. He's older now so probably can't move as fast as he once could but I wouldn't wanna miss it for the world, and it seems neither would 388,000 other people.
Dianne Reeves US News HienaLouca
https://i.dailymail.co.uk/1s/2019/03/01/21/10472302-6762063-image-a-69_1551475863085.jpg
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