U.S. President Donald Trump on Friday sounded an optimistic note about trade negotiations with China as two of his top economic and trade advisers downplayed friction from the arrest of a senior executive of Chinese telecom equipment maker Huawei Technologies.
“China talks are going very well,” Trump said on Twitter, without providing any details.
Major companies have expressed concerns about the how the arrest of Huawei Chief Financial Officer Meng Wanzhou in Canada at the request of U.S. authorities would affect U.S.-China relations or that it would cause a potential backlash against American firms operating in China.
But Larry Kudlow, director of the White House’s National Economic Council, told CNBC he did not believe Meng’s arrest would “spill over” into the talks with China aimed at increasing Beijing’s purchases of U.S. farm and energy commodities, lowering Chinese tariffs and sweeping changes to China’s policies on intellectual property and technology transfers.
Kudlow said the investigation of whether Huawei violated U.S. sanctions against Iran were on a “separate track” from the trade talks and was a matter of national security and U.S. law.