White House economic adviser Larry Kudlow on Monday said the U.S. could cancel plans to impose new tariffs on China if trade talks go well.
“Ultimately, this is up to the president,” Kudlow said in an interview on Fox Business Network. “My hunch is that we could get those December tariffs off if the phase one talks go well.”
The U.S. and China said in mid-October that they had reached “phase one” of a tariff deal in which China would agree to new purchases of U.S. agricultural goods and the U.S. would hold off on tariffs that we scheduled to be imposed on Oct. 15. The two sides have continued talks to “paper” the first part of the deal, which could also include a currency pact.
Kudlow expressed optimism about the talks, saying they were “looking pretty good.”