White House's Kudlow floats possible 'breakthrough' in China trade talks

White House economic adviser Larry Kudlow on Tuesday dangled the possibility of a "breakthrough" between Pre...

Posted: Nov 28, 2018 9:00 AM
Updated: Nov 28, 2018 9:00 AM

White House economic adviser Larry Kudlow on Tuesday dangled the possibility of a "breakthrough" between President Donald Trump and his Chinese counterpart on trade at their upcoming Argentina meeting -- but again said China has to blink first.

Trump and Chinese President Xi Jinping are set to meet Saturday evening for a formal dinner on the sidelines of the G20 meeting in Buenos Aires, their only scheduled meeting before January 1, when tariffs imposed by Trump on more than $200 billion in imports are set to jump to 25%.

Asia

Business, economy and trade

China

Continents and regions

Donald Trump

East Asia

Government and public administration

Government bodies and offices

International trade

Larry Kudlow

Political Figures - Intl

Political Figures - US

Politics

Trade and development

US federal government

White House

Xi Jinping

Kudlow said the dinner could afford the two sides a chance to "turn a new page" in their bilateral economic relationship if Xi can "step up" and present a few new ideas to the United States.

"President Xi has an opportunity to change the tone and the substance of these talks," said Kudlow. "This is a big opportunity. President Trump has indicated he's open. Now we have to know if President Xi is open."

Kudlow added that while there would be "interactions" between the two countries during the G20, any deal will be ironed out between the two leaders in real time.

"President Trump has a terrific track record as a negotiator," said Kudlow. "He will know through fact and instinct how to handle this."

That approach follows Trump's model on other high-stakes encounters, including his meeting earlier this year with North Korean dictator Kim Jong Un on denuclearization.

Trump has repeatedly made clear that he isn't satisfied with an initial offer made by the Chinese in a 142-point offer delivered in mid-November following calls between the two presidents as well as between US Treasury Secretary Steven Mnuchin and Chinese Vice-Premier Liu He.

The US President escalated tensions in a Wall Street Journal interview published Monday, telling the paper that he would consider adding import duties on all Chinese-made goods including Apple phones if a deal can't be reached with Xi.

Trump's comments sent Apple stock down Monday evening and Tuesday.

The planned dinner between the two presidents is the only formally scheduled meeting at the summit in Argentina. Kudlow said additional meetings could be added to the docket, but nothing has been planned so far.

The White House has offered few details so far on the dinner and has yet to disclose who will be attending. Kudlow suggested it would be a reasonable expectation that each president's spouse would likely join the two men, while noting that trade wouldn't be the only topic of discussion between the two leaders.

Several members of the President's cabinet will be attending the G20 summit, including Treasury Secretary Steven Mnuchin and Ambassador Robert Lighthizer, the country's top trade negotiator, along with Secretary of State Mike Pompeo and National Security Adviser John Bolton.

He declined to specify whether the two countries would issue a statement following the end of their meeting.

Plans for Chinese negotiators to come to Washington this week ahead of the Argentina summit collapsed last week amid the public exchange of increasingly pointed comments between Trump and Xi. But Kudlow said there have been "significant" preparations in the lead-up to this weekend's meeting with each leader briefed on issues and history between the two sides and armed with talking points.

"This is a big deal," said Kudlow. "We're all going to try to do the best we can."

Mississippi Coronavirus Cases

Data is updated nightly.

Cases: 261167

Reported Deaths: 5713
CountyCasesDeaths
DeSoto17561191
Hinds16687329
Harrison14050202
Rankin11102217
Jackson10729188
Lee9014143
Madison8495168
Jones6607114
Forrest6135122
Lauderdale6067192
Lowndes5490120
Lafayette511794
Lamar499865
Washington4904125
Bolivar4087109
Oktibbeha403581
Panola380981
Pontotoc374757
Monroe3651106
Warren3649103
Union353263
Marshall352069
Neshoba3464154
Pearl River3422105
Leflore3090109
Lincoln304287
Sunflower290373
Hancock288461
Tate279062
Alcorn270754
Pike268180
Itawamba266662
Scott256048
Yazoo253756
Prentiss251153
Copiah247649
Tippah247550
Coahoma245954
Simpson241471
Leake236167
Grenada222471
Marion220273
Covington219072
Adams212370
Wayne208432
Winston205870
George203539
Newton197346
Attala196461
Tishomingo193861
Chickasaw188444
Jasper177838
Holmes171368
Clay164237
Tallahatchie155635
Stone149525
Clarke144762
Calhoun139922
Smith127725
Yalobusha121134
Walthall114037
Greene112929
Noxubee112225
Montgomery111236
Carroll106422
Lawrence105617
Perry104031
Amite100826
Webster95424
Tunica88221
Claiborne87825
Jefferson Davis87727
Benton84823
Humphreys84224
Kemper80020
Quitman7049
Franklin69617
Choctaw62513
Wilkinson59625
Jefferson56520
Sharkey44817
Issaquena1606
Unassigned00

Alabama Coronavirus Cases

Cases: 436087

Reported Deaths: 6486
CountyCasesDeaths
Jefferson63969994
Mobile31211565
Madison27851208
Tuscaloosa21233271
Montgomery19698326
Shelby19093130
Baldwin16981188
Lee13036105
Morgan12526134
Etowah11987179
Calhoun11441206
Marshall10357123
Houston8886158
Limestone827876
Cullman8203108
Elmore8120104
DeKalb7828103
Lauderdale7798103
St. Clair7763125
Talladega6394111
Walker6002177
Jackson594644
Colbert545276
Blount543986
Autauga532761
Coffee456762
Dale406883
Franklin372448
Russell349212
Chilton342873
Covington336068
Escambia330144
Dallas312096
Tallapoosa3120107
Chambers301170
Clarke293336
Pike261131
Marion251558
Lawrence250752
Winston232742
Bibb221248
Geneva208746
Marengo206529
Pickens199031
Hale182742
Barbour179337
Fayette177029
Butler172459
Cherokee164330
Henry158224
Monroe151320
Randolph144336
Washington140127
Clay129146
Crenshaw122944
Macon120937
Cleburne120724
Lamar119721
Lowndes113736
Wilcox106622
Bullock102228
Perry99118
Conecuh96821
Sumter90026
Greene76823
Coosa63215
Choctaw51724
Out of AL00
Unassigned00
Tupelo
Cloudy
54° wxIcon
Hi: 57° Lo: 33°
Feels Like: 54°
Columbus
Cloudy
55° wxIcon
Hi: 58° Lo: 37°
Feels Like: 55°
Oxford
Cloudy
50° wxIcon
Hi: 54° Lo: 31°
Feels Like: 50°
Starkville
Cloudy
52° wxIcon
Hi: 56° Lo: 37°
Feels Like: 52°
WTVA Radar
WTVA Temperatures
WTVA Severe Weather