Phase one trade war deal ‘absolutely’ done, with US exports to China to double, says White House adviser Larry Kudlow
- Translations still being worked out but no changes expected, top economic aide adds
- When asked if officials still plan to sign deal in first week of January, Kudlow says ‘That’s the hope’
The so-called phase one trade deal between Washington and Beijing has been “absolutely completed”, a top White House adviser said on Monday, adding that US exports to China would double under the agreement.
“They’re … going to double our exports to China,” National Economic Council Director Larry Kudlow told Fox News Channel.
Under the trade agreement announced last week, Washington will reduce some tariffs on Chinese imports in exchange for Chinese purchases of agricultural, manufactured and energy products increasing by about US$200 billion over the next two years.
While US officials have touted the deal, Chinese officials have been more cautious, emphasising that the trade dispute has not been completely settled.
“Make no mistake about it: the deal is done, the deal is completed,” Kudlow later told reporters at the White House. “The deal is absolutely completed.”