Larry Kudlow, the former economic adviser to President Ronald Reagan, said the biggest hindrance for U.S. companies doing business in China is regulation, not currency manipulation.
“It’s one of the problems with China … this issue of China trade protectionism,” he said on cable channel CNBC. “The United States government has to persuade China to lower its tariffs and its non-tariff barriers.”
President Donald Trump made China a key target for criticism during the election, bashing the world’s second-biggest economy for making its currency artificially weak in order to make its goods more affordable for Americans. Trump has threatened to label China as a currency manipulator and impose penalties on imports from the Asian country.
Trump this week will host Chinese President Xi Jinping at his Mar-a-Lago estate in Palm Beach, Florida. The two leaders are expected to discuss trade relations and security, particularly as North Korea’s nuclear weapons program