Larry Kudlow said the administration hopes China will begin “very soon” to make significant purchases of U.S. agricultural goods as a goodwill gesture — and ultimately as part of a final trade deal
White House senior economic adviser Larry Kudlow said Tuesday the administration hopes China will begin “very soon” to make significant purchases of U.S. agricultural goods as a goodwill gesture — and ultimately as part of a final trade deal.
Trump said he secured a commitment from Xi at the G-20 meeting last month that Beijing would buy more U.S. farm goods, but those purchases have yet to fully materialize. Trump has long viewed massive purchases of agricultural goods by China as a vital part of negotiations to end the trade war, which the U.S. launched to address policies and practices the administration says result in the forced transfer of U.S. technology and theft of intellectual property.
Kudlow said the administration wants the talks to return to where they were in early May, before U.S. officials say China altered a draft text by rejecting U.S. demands that Beijing amend its laws to meet commitments such as prohibitions against forcing U.S. companies to surrender technology as a condition of doing business in the Chinese market. It is not known whether China will return to the previous version of the text.
The Chinese government has been pressing the U.S. to remove the tech giant from the Commerce Department’s so-called Entity List, which effectively prohibits U.S. companies from doing business with the firm. U.S. semiconductor companies that count Huawei as a major customer have been pressuring the administration to at least grant waivers that would allow them to resume certain transactions.By signing up you agree to receive email newsletters or alerts from POLITICO.
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