Trump's top economic adviser calls China global trade's 'biggest culprit', says word on new tariffs is 'coming soon'

China is the "biggest culprit" in terms of doing damage to the global trading system, US President Donald Trump's top economic adviser said on Monday, adding that an announcement about further US tariffs on Chinese imports is "coming soon".

Trump "has not been satisfied with the talks with China. An announcement [about tariffs] will be coming soon," Larry Kudlow, director of the National Economic Council, said at an Economic Club of New York event.

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"The reality is we cannot permit the theft of our intellectual property. We must strive for American ownership of American companies in China," he added.

Larry Kudlow at the Economic Club of New York event on Monday. Photo: Robert Delaney/SCMP

Kudlow's comments come amid mixed signals from the White House about its stance on the trade war with China Trump set in motion in July.

Last week, the US Treasury Department invited senior Chinese officials, including Vice-Premier Liu He, to the United States for talks with Treasury Secretary Steven Mnuchin, an invitation Beijing welcomed.

However, the Chinese could well reject the talks if additional tariffs, as Trump has threatened, go into effect, The Wall Street Journal reported over the weekend.

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And just hours before Kudlow spoke, Trump said that tariffs had put the US in a very strong bargaining position and "billions of dollars, and jobs" had flowed into the US.

"If countries will not make fair deals with us, they will be 'Tariffed!'" the president said on Twitter.

Politico, The Wall Street Journal and Bloomberg News have all cited anonymous sources familiar with Trump's trade war plans in recent days as saying that the White House would announce new tariffs on US$200 billion in Chinese goods imminently.

"We are willing to talk with China anytime if they are willing to move towards serious talks to remedy the trade problems," Kudlow said.

"On something of substance, [Trump's negotiating team wants Chinese counterparts to] just say yes. Just say yes to a couple of things and then we can move ahead."

This article originally appeared on the South China Morning Post (SCMP).

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