Kudlow drops US, China trade-deal bombshell

Is a trade deal between the U.S. and China about to ignite? According to top White House adviser Larry Kudlow U.S. Trade Representative Robert Lighthizer “really lit a fire under it.”

“We made so much progress last week when the Chinese were here," he told FOX Business’ Stuart Varney on Friday. “The agreements made last week represent tremendous progress on IP theft, on forced technology transfer, on ownership, on cyber interference and maybe most importantly on enforcement.”

Kudlow added that the agreement would open the door for American export sales to soar.

“What we have is vastly greater than just buying some soybeans,” he said. "It’s virtually a revolution in American-Chinese trade -- it could be a historical breakthrough.”

Although Kudlow is unsure whether President Xi will give his stamp of approval on the agreements, he said, Trump and Xi could “sign and seal” a deal during a meeting this month at Mar-a-Lago.