Trump pressured to finalize China trade deal after North Korea talks falter
President Trump is facing new pressure to get a trade deal with China after talks with North Korea fell apart in Vietnam earlier in the week.
Stanford University lecturer Dave Dodson told FOX Business’ Neil Cavuto on Friday the U.S. still has a long way to go before finalizing a trade agreement with China and that talks are not in America’s favor like many suggest.
"The expectations are extraordinarily high for a deal,” he said on “Cavuto: Coast-to-Coast.” “Between North Korea and the government shutdown, this administration wants a win.”
Dodson warned that unlike with North Korea, Trump can't just walk away from the table on China trade talks.
"If you walk away from the table, what are our options? You crank up the tariffs again. Who are the tariffs going to hurt? Soybean states. And the electoral map is miserable going into 2020 if he upsets the soybean states," he said.
When asked what would signal a good deal to him, Dodson said, he wants to see a level playing field between China and the U.S.
"Ultimately, the power of the American economy and the Chinese economy is not going to hinge on this trade deal and we also have to keep in mind that the things the administration is looking for are going to be very hard to enforce," he added.
White House National Economic Council Director Larry Kudlow told FOX Business' Stuart Varney Friday the White House is expecting to host Chinese President Xi Jinping at Mar-a-Lago later this month.
Kudlow also told FBN the agreements made last week represent tremendous progress between the world’s two largest economies.
“We made so much progress last week when the Chinese were here," he said on “Varney & Co.” “The agreements made last week represent tremendous progress on IP theft, on forced technologyOpens a New Window. transfer, on ownership, on cyberOpens a New Window. interference and maybe most importantly on enforcement.”