Trump 'so dissatisfied' with China trade talks, keeping pressure on: Kudlow

The US blames Xi Jinping for causing the escalation of a trade conflict

On Wednesday, Larry Kudlow, who heads the White House Economic Council, said that he believed lower-ranking Chinese officials want a deal, including Xi's senior economic adviser Liu He, but that Xi has refused to make changes to China's technology transfer and other trade policies.

"As far as we know, President Xi at the moment does not wish to make a deal", White House National Economic Council Director Larry Kudlow said at the CNBC Institutional Investor Delivering Alpha conference in NY on Wednesday.

China could end USA tariffs "this afternoon by providing a more satisfactory approach" and taking steps that other countries are also calling for, he said.

"I think Xi is holding the game up".

"I do not think [Chinese] President Xi [Jinping] has any intention of following through on any of the discussions we've made and I think the President is so dissatisfied with China on these so-called talks that he is keeping the pressure on and I support that", Kudlow said in a televised interview on CNBC. "I think Liu He and others would like to move but haven't", Kudlow said.

The current trade tensions between the USA and China flared up in March, when Trump threatened to impose tariffs on $50 billion worth of Chinese imports to the US.

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The administration has also released a list of 10 per cent tariffs on an additional US$200 billion of Chinese goods, which could take effect as early as next month. "We are waiting for him (Xi). Allow the American or British or whomever, German, full ownership of the companies operating in China". He added that the ball is in President Xi's court.

"Don't be gloomy and doomy in an overboard sense", Kudlow said. China retaliated on the first wave of tariffs by slapping duties on the same dollar amount of USA imports, and Beijing has said it'll fight against any further USA actions.

So far Trump has been vague about what exactly China needs to offer in the form of a trade deal in order for the barriers to come down, but Kudlow offered a laundry list of items that the U.S. would need to see in order to eliminate the tariffs.

China could end US tariffs "this afternoon by providing a more satisfactory approach" and taking steps that other countries are also calling for, he said.

However, Kudlow declined to say whether the United States could win a trade war with Beijing.

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