Kudlow: US-China trade deal can be 'historic'

White House economic adviser Larry Kudlow told FOX Business on Friday that a trade deal between the U.S. and China could be “historic,” but it must be in America’s best interest.

“The president’s attitude is that it has to work for us—and we have a number of criteria,” Kudlow told Stuart Varney on Friday. “This could be an historic deal.”

Kudlow said a deal in America's best interests would include Beijing's enforcement of an end to IP theft and cyber hacking, a provision that allows American companies operating in China to own themselves, and “substantially” lower or the potential end to tariffs on cars, commodities, industrial supplies and agriculture.

Kudlow added that a final deal could come later this month, or possibly in April.

“It’s on paper,” he said. “But the final agreement is not yet in place… we have more work to do—and we will do the work.”

Trump on Friday said that he’s optimistic on reaching a deal.

“I’m confident,” he told reporters from the White House. “But if we don’t make a very good deal for our country, I wouldn’t make a deal.”

The U.S. and China, the world’s largest economies, have been embattled in a tit-for-tat trade tiff for months.