China's Xi Jinping holding up deal to resolve trade dispute: Trump adviser

China's Xi Jinping holding up deal to resolve trade dispute: Trump adviser

Trump has also demanded that the European Union cut its 10 percent tariffs on imported cars, and his administration is conducting a national security study that could lead to a 25 percent US tariff on imported vehicles.

According to reports, Larry Kudlow, head of the White House Economic Council, said the United States and China failed to reach an agreement to resolve the trade dispute, and China should take the responsibility for that.

"There's no recession in sight", Mr. Kudlow said.

Throughout it all, Trump has maintained a good relationship with Xi and they are working together to thwart North Korea's nuclear threat, said Kudlow.

China's ambassador to the USA warned the Trump administration Wednesday that tariffs on China will backfire and Washington will "only end up hurting itself and the world".

Mr. Kudlow said other Chinese officials, including Vice Premier Liu He, a key economic advisor, are open to reducing tariffs but Mr. Xi is stalling. On Wednesday, the White House said Chinese President Xi Jinping refused to make changes to China's technology transfer and other trade policies. "Don't blame Trump, blame China", Kudlow said. "We are waiting for him (Xi)".

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Trump has imposed tariffs on steel and aluminium worldwide, as well on $34 billion in Chinese goods, with another US$16 billion likely to be targeted shortly, and US$200 billion more to face duties as soon as September. "The ball is in his court".

"I do not think President Xi, at the moment, has any intention of following through on the discussions we made".

Trump has said the tariffs are an effort to protect American workers from unfair Chinese technology and trade practices, though experts have warned they could harm the US economy.

These included cutting tariff and non-tariff barriers to imports, ending the "theft" of intellectual property and allowing full foreign ownership of companies operating in China, Kudlow said. Kudlow said, however, that he could not provide further details.

Kudlow, a longtime advocate for a free market, said that while he generally opposes tariffs, something needed to be done about worldwide trade.

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