Kudlow: China to honor commitments 'immediately'

Politics 12/3/2018, 6:41 PM
Kudlow: China to honor commitments 'immediately'

White House economic adviser Larry Kudlow told Fox Business in an interview that China would "immediately" implement concessions it committed to on a number of key issues. He also announced that the results should be seen even before the 90-day moratorium on protectionist measures expires.

The director of the National Economic Council said the government in Beijing has to show significant progress in order to keep the truce, adding that he would "be comfortable" with individual deals on various issues discussed during the meeting between the presidents. He also asserted that "for the first time" China would grant a majority ownership to American companies, saying the United States will increase exports if the most populous nation opens its markets. According to him, China is going to roll auto tariffs back completely. Also, he confirmed that US trade representative Robert Lighthizer will be in charge of the trade talks.

Over the weekend, US and China presidents Donald Trump and Xi Jinping agreed to make a break in the ongoing trade war between the two countries and delay additional tariffs.

Breaking the News / GG