“Sizable Distance” Remains Over U.S.-China Trade Accord

February 07, 2019 at 6:02 PM

China and the U.S. are still far apart on an agreement to end their tariff war and have no high-level meetings planned to finalize a deal before a possible escalation three weeks from now.

White House economist Larry Kudlow notes that President Donald Trump remains optimistic about a quick deal. But he tells Fox Business that a “sizable distance” remains between the two trade camps.

As for a meeting between Trump and China President Xi Jinping to finalize the deal, Kudlow says, “No date has been set, no time, no place, no nothing.”

The two leaders agreed in December to suspend further escalation of the tariff war and refocus on negotiation. Trump has threatened to ratchet up tariffs on $200 billion worth of imported Chinese goods from the current 10% to 25% on March 1 if the two countries fail to reach a meaningful deal.