White House economic advisor Larry Kudlow on Monday told FOX Business that a trade deal with China is far from being reached.
“I would say frankly as the president has said he’s not been satisfied with the progress of those talks,” Kudlow told Stuart Varney. “[There] really hasn’t been much progress recently.”
However Kudlow hinted at a potential meeting between Trump and President Xi at the next G20 summit set for November.
“He has admiration for President Xi and they may, may perhaps, meet at the G20 in Buenos Aires later this year,” Kudlow said. “But no, nothing is imminent on China but we are willing to talk if it’s substantial and significant and serious—always willing to talk.”
Although the discussions “have not been sufficiently detailed,” he said the talks, so far have been centered on corporate ownership and IP theft.
“One of the key things, Stu, is ownership -- United States companies operating in China instead of joint ventures where the Chinese own the majority,” he said. “We should own the majority, in fact, we should own all of it because that’s where the technology, the forced technology, transfers occur. Their board, they own the company, you have to put your blue print on the table -- that’s unacceptable.”