China slams senior US official's remarks on trade dispute

The US Economy ‘Nothing Succeeds Like Success

He contrasted Trump with previous US presidents, whom he said had complained to China and the World Trade Organization but failed to follow through.

Kudlow concluded by attacking China's president Xi Jinping.

U.S. Trade Representative Robert Lighthizer last week listed thousands of additional Chinese products that could face 10 percent tariffs - valued as much as $200 billion - as early as September.

"They're going to be coming on July 25th to negotiate with us".

The United States and China this month slapped tariffs on $34 billion of each other's imports in an escalating trade tussle that has roiled financial markets.

At a press conference, Chinese foreign ministry spokesperson Hua Chunying said despite the US' increasing number of tariffs, China "has the confidence, the abilities and the conditions to realise steady and sound economic growth" to withstand the trade war.

Larry Kudlow, director of the US National Economic Council, said that the recent tariffs imposed on China "should have been done years ago".

While Beijing described those latest threats as "totally unacceptable", Trump administration officials continued to demand China reform its hardline trade negotiating tactics and curtail the theft of American technology and intellectual property, a major campaign pledge of President Trump.

Kudlow's calls for steady or increasing growth in the coming cycle comes up against broad-market expectations of a mild downturn in 2019 and beyond, but Kudlow's job description makes it hard for President Trump's top economic mind to cast doubt on the impacts of the POTUS' economic policies. Permanent", Kudlow said. "So not only did we have a successful tax cut, but we want to keep it that way.

"I think he needs to move".

He also commented on the talks scheduled for next week between Trump and European Commission President Jean-Claude Juncker. "We are waiting for him (Xi)". Speaking Wednesday morning at CNBC's Delivering Alpha conference in NY, he said the additional fiscal stimulus measures, coming after Trump's late-2017 corporate tax cuts, could boost gross domestic product to a range around 4%. The ball is in his court.

China has made the utmost efforts to push for a resolution to the issue through dialogue and consultation to avoid escalation of the trade dispute, Hua said.

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