China says USA blaming Xi for blocking trade deal is "bogus"

China Blaming Xi for US trade war is ‘shocking

China on Wednesday said it was "shocking" for a USA official to blame Chinese President Xi Jinping for escalating trade tensions between the two countries.

"I do not think President Xi [Jinping] has any intention of following through on any of the discussions we've made", Kudlow told CNBC's Jim Cramer at the Delivering Alpha conference in NY. Xi's top economic adviser, Liu He, appears willing to move forward on a deal, said Kudlow.

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.

The goods included fruits, vegetables, handbags, refrigerators, rain jackets and baseball gloves.

The threat of tariffs led to a counter-threat from China and kicked off weeks of furious negotiations between the two countries in an attempt to reach a deal.

"Here's my solution, and the president agrees with this: Lower your barriers", he said.

With the President's intent focus on the performance of the stock market under his tenure, you can bet that as long as this trend continues, there will be no urgency on the part of the United States to make much in the way of concessions, especially after relaxing restrictions on the ZTE ban and seemingly getting nothing in return. "We will export like insane".

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In fact, while some think that the booming post-recession economy is on its last legs, Kudlow sees the good times rolling for several more years - and perhaps getting even better.

China has made the utmost efforts to avoid an escalation of trade frictions, Hua said, reiterating that China does not want a trade war but is not afraid of one.

"If you think we are [in a trade war with China], is it winnable?"

"I have been a long-term critic of China", he said.

Kudlow said talks between the two countries are now stalled.

President Trump then proposed 10-percent tariffs on a list of $200 billion in Chinese products, which China responded to by filing a challenge with the World Trade Organization.

Kudlow's bullishness stems from the possibility of an unprecedented capital spending boom, the return of capital to U.S. from Europe and China at levels unseen since the 1990s.



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