FROM EIR DAILY ALERT
Larry Kudlow Insists Talks with China Are Going Well
Dec. 10, 2018 (EIRNS)—Appearing yesterday on Fox News Sunday with host Chris Wallace, Larry Kudlow, director of the National Economic Council, expressed optimism that U.S.-China trade talks are “on track,” and pointed to positive statements made last week by China’s Commerce Ministry as evidence of this. The Wall Street Journal quotes U.S. Trade Representative Robert Lighthizer, who is otherwise presented as a “hardliner” on the 90-day deadline to reach an agreement, saying that “if there’s a deal to be done, we’ll make it. The President wants us to make a deal.”
Kudlow reported that 35 Chinese agencies, along with China’s Supreme Court, are drawing up legislation to address intellectual property theft, and that China indicated in addition that it is prepared to purchase “large amounts” of U.S. services, as well as agricultural products, including soybeans, and also natural gas. It is also reportedly considering reducing tariffs on U.S. automobiles. Treasury Secretary Steve Mnuchin has indicated that China may make additional purchases of $1.2 trillion, the Wall Street Journal reported, stating, “if that is real, that will close the trade deficit.”
So, Kudlow remarked, there are “some very positive statements” out of Beijing. “When you piece it together ... there’s a lot of good things out there.”
On Canada’s arrest, at the behest of the Justice Department, of Huawei’s Chief Financial Officer Meng Wanzhou, Kudlow underscored that President Donald Trump hadn’t known about it beforehand, and, after being informed, had “no reaction.” Wallace insisted, citing his “sources,” that Trump had been “livid” on learning the news, to which Kudlow replied he had not seen such a reaction, but hypothesized that, were he in a similar position, he, too, might be livid.
Otherwise, Kudlow emphasized that the case of Huawei’s Meng Wanzhou would not affect trade negotiations—that it’s a law enforcement issue, unrelated to trade. It’s “outside my lane,” he said.
