News / Foreign Policy

‘Good possibility’ a trade deal can be made at G20: White House

Wednesday, 28 November 2018 3:11 AM [ Last Update: Wednesday, 28 November 2018 3:32 AM ]

Director of the National Economic Council Larry Kudlow speaks at a press briefing at the White House in Washington, DC, on November 27, 2018. (Photo by AFP)

US President Donald Trump says there is a “good possibility” that China and the United States would reach a deal on trade when the leaders of the two countries meet at an upcoming G20 summit in Argentina, according to a White House economic adviser.

Larry Kudlow said at a press briefing in Washington on Tuesday that Trump was open to reaching a deal on resolving US-China trade disputes with his Chinese counterpart, Xi Jinping, at their meeting in Buenos Aires later this week.

“It's going to be a dinner meeting between President Trump and President Xi and representatives from both sides. It'll be bilateral,” Kudlow said.

“I want to just mention what the President told us a short while ago, and that is in his view, there is a good possibility that a deal can be made, and that he is open to that - he is open to that,” he added.

Kudlow, however, said, “Certain conditions have to be met with respect to fairness and reciprocity,” listing intellectual property theft, forced technology transfer, ownership of American companies in China, high tariffs and non-tariff barriers on commodities, and commercial hacking as examples of issues that “must be solved.”

The White House economic advisor said the meeting could afford the two sides a chance to "turn a new page" in their bilateral economic relationship if the Chinese president can "step up" and present new ideas to the United States.

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

The official added that while there would be "interactions" between the Washing and Beijing during the G20, any deal will be struck between the two leaders in real time.