The United States announced its first phase agreement with China, but some people are skeptical. White House economic adviser Larry Kudlow said on October 17th that he was interviewed by the Consumer News and Business Channel (CNBC) that China-US trade negotiations are accelerating and moving towards a full agreement.
Kudlow said that the first phase agreement between China and the United States is true, surpassing China’s procurement of US agricultural products, including non-tariff barriers to open agricultural products. He said that there is no decision on when to sign any agreement, or it will be signed during the Asia-Pacific Economic Cooperation (APEC) meeting in Chile in November, or at other times.
Kudlow said that the public does not need to be too pessimistic about China-US trade negotiations, and that good things are likely to happen. He also pointed out that he expressed appreciation and respect for the doubts of the outside world, but there are many motivations for the negotiations, and the two sides already have agreements.
Wall Street analysts questioned that the agreement only focused on “fruits hanging in the lower part”, and did not even believe that early agreements would help multinational companies make important decisions, such as investing, producing, hiring or picking up goods.
Kudlow argues that US companies will have new opportunities, especially in anticipation that China will reduce non-tariff barriers to agricultural products. He continued that there will be multiple market access openings for agricultural products and agricultural standards.