China: Blaming Xi for USA trade war is ‘shocking’

Daniel Fowler
July 21, 2018

China said on Thursday comments made by a senior White House official blaming Chinese President Xi Jinping for blocking progress on a deal to avert a trade war were "shocking" and "bogus" accusations.

Kudlow, director of the National Economic Council, sounded optimistic about the path of the USA economy.

"We are getting three and it may be a four for a quarter or two, it may be plus", said Larry Kudlow, assistant to the president for economic policy and director of the National Economic Council, at CNBC's 2018 Delivering Alpha Conference.

On July 10, the Trump administration proposed a new wave of tariffs on $200 billion worth of Chinese goods.

China could end USA tariffs "this afternoon by providing a more satisfactory approach" and taking steps that other countries are also calling for, he said.

President Donald Trump's economic adviser said American gross domestic product (GDP) may reach a growth rate of 4 percent or more. Xi's top economic adviser, Liu He, appears willing to move forward on a deal, said Kudlow.

Who's wooing who in the Trump-Putin relationship?
Trump and Putin discussed, and what agreement or agreements they reached, has been the topic of much discussion and confusion . Putin echoed Trump's sentiment, saying: "There was no solid reason behind the current tensions between our two countries".

"It [the U.S.] has brazenly abandoned bilateral consensus and insisted on fighting a trade war with China, forcing us to take countermeasures", Chinese ambassador Cui Tiankai argued in an op-ed published by USA Today.

While some investors had hoped Kudlow might use the occasion to dial back some of Trump's rhetoric and calm Wall Street's nerves, he backed his boss fully.

Trump this month also leveraged steep tariffs against historic USA allies including the European Union and Canada, as well as Mexico.

"You have to go and lay your entire blueprint on the table, including the technology, and they will have their experts open it right up", he said.

"I think the president is so dissatisfied with China on these so-called talks that he is keeping the pressure on - and I support that". "We are waiting for him". Europe, Canada, even our sources in China say that even the Chinese government knows that they are doing is wrong. The ball is in his court.

Mr. Kudlow suggested Beijing knows what it must do - knock down non-tariff barriers, further prevent IP theft and allow foreign firms to fully own their operations, as opposed to relying upon controversial Chinese joint-ventures.

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