Larry Kudlow, director of the National Economic Council, stated today on an interview with CNBC that the markets should not expect a ‘grand deal’ with China.
“I wouldn’t expect any grand deal,” Kudlow told CNBC’s “Squawk on the Street ” on Friday. “Talking to our negotiators, I think they’re going to reset the stage and hopefully go back to where the talks left off last May.”
“We were doing well then,” he said. Kudlow added the two sides still need to address key structural issues such as intellectual property theft and forced transfers of technology, reported CNBC.
President Trump also tweeted regarding Apple and Google this morning regarding their operations in China. Both stocks were down on the news.