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ECONOMIC COUNCIL DIRECTOR SAYS CHINA TRADE WAR MAY GO ON FOR A DECADE
Sep. 9, 2019
Agri-Pulse reports:
President Trump won't be backing down in the trade war with China, a conflict that could go on for years, according to National Economic Council Director Larry Kudlow.
The fight to get China to change its ways in international trade and intellectual property protection has already gone on for more than a year, but Kudlow stressed to reporters on Friday that could be just the beginning.
"It may go on much longer than that ..." Kudlow said after comparing the dispute to President Reagan's clashes with the Soviet Union. "The stakes are very high for both countries ... We have to get it right and if that takes a decade, so be it."
But Kudlow says he is still hopeful that significant progress can be made in upcoming negotiations. A lot will depend on whether China will agree to honor previous agreements that the country backed out of in May, causing talks between the two countries to break down. "We would like to go back to where we were last May, but I don't know if that's possible ..." Kudlow said. "This is a difficult matter."
Top ministerial level officials are now expected to meet in Washington next month after lower-level negotiators gather later in one or two weeks to prepare for the next round of talks.
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