UPDATED 10:47 AM PT — Thursday, February 28, 2019
According to the Trump administration, good progress is being made with China as negotiations continue for a final trade deal.
In an interview Thursday, White House economic adviser Larry Kudlow said last week’s talks in Washington made “fantastic” progress. He said the two sides are making “great headway” on non-tariff barriers and agriculture related tariffs.
Kudlow also said the Chinese have expressed a “willingness” to make structural changes on key issues like intellectual property theft.
“We have mechanisms with respect to enforcement, which is — I think — is unparalleled,” he stated. “The progress has been terrific, we have to hear from the Chinese side, we have to hear from President Xi Jinping, of course, but I think we’re headed for a remarkable, historic deal.”
Treasury Secretary Steven Mnuchin, who has participated in high-level negotiations so far, also addressed the talks in an interview Thursday. He said they have “made a lot of progress” and hope to continue moving forward this month.
“Last week I sat in meetings with ambassador Lighthizer and the Vice Premier Liu He — we made a lot of progress, I think we’ve commented on, we’re working on 150-page document,” said Mnuchin. ” This is a very, very detailed agreement for some very significant commitments and these are structural commitments, but we still have more work to do.”
President Trump extended the March 1, 2019 deadline for a deal at the end of trade negotiations last week. He plans to meet with Chinese President Xi Jinping sometime in March before a final agreement is signed.