The latest move by China in the escalating trade conflict with the United States was "very positive," but that doesn't necessarily mean that tariffs won't happen before negotiations occur, top Trump economic advisor Larry Kudlow told CNBC on Wednesday.
The two countries have announced tit-for-tat tariff plans against each other. However, on Tuesday, Chinese President Xi Jinping said he plans to open up China's economy, including lowering tariffs for autos and other products and improving intellectual property protection for foreign firms.
"I think what's going to happen is we are going to have negotiations at some point. There may be tariffs before, maybe not. We shouldn't panic," Kudlow, director of the National Economic Council, said on "Closing Bell."
He added, "So far there have been no tariffs implemented. … and you're not going to see any of that for probably a couple of months."
Reference: CNBC
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