White House Economic Adviser Larry Kudlow said Thursday that the United States and China are still far from reaching a trade deal, despite optimism that a meeting will take place between the leaders of the two nations.
"We have a pretty considerable distance to go here," said Kudlow FOX Business & # 39; Stuart Varney. "To quote a colleague of mine -" We have miles to go before we sleep. ""
The White House Adviser told journalists outside the White House on Thursday that President Trump expects to meet with Chinese President Xi Jinping in an attempt to strike out a trade deal, but time and place are still unknown. [1[ads1]9659002] The world's two largest economies have been engaged in a tit-for-trade trade battle for almost a year, even though both sides agreed on a 90-day trade violence during the year. Summit in late December.
The White House said on March 1 is a difficult deadline for reaching a trade deal and will catch the tariffs on Chinese goods the next day (as planned) if it fails to speak.  Kudlow said State Secretary Steven Mnuchin and US Commerce Representative Robert Lighthizer will travel to China to continue the discussions from last week and describe them as having a "good mood."
Trump administration has criticized China for its unfair trade practices and has accused the country of stealing US intellectual property and technology – both are at the heart of the trade conflict.
"We covered tremendous bases and all the major issues the technology issues the ownership problems, especially the evaluation issues," said Kudlow about the meetings.
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Experience an economic downturn that affects both equity and auto markets, while vehicle sales in the country fell 6 percent to 22.7 million units last year, according to the China Passenger Car Association.
On Thursday, the Dow Jones Industrial Average went on Thursday after Kudlow's comments. ]