Former Obama trade representative Ron Kirk told CNBC he agrees with the Trump administration's push to 'hold China's feet to the fire' on any deal.
Ron Kirk, a former U.S. trade representative in the Obama administration, told CNBC on Wednesday he agrees with the Trump administration that there should be"an enforceable mechanism that will hold China's feet to the fire" on any deal reached.
Then again, Kirk said, China may be unsure whether the Trump administration can be believed or not. For example, he said President Donald Trump's threats to close the U.S.-Mexico border and his previous threats on tearing up a trade deal with Mexico and Canada make it"difficult for our trading partners to know when to take him seriously."
Kirk said he's seeing encouraging signs of progress in the high-level economic and trade talks between the world's two largest economies to resolve trade differences. Added Kirk:"Our experience, anytime the vice premier [of China] shows up, he has the authority to make a deal. And the fact that the two sides continue to talk — and if it is in fact true we are down to the level of making sure the language and the translation is in fact representative of what the parties have agreed on — we could be closer to a resolution than not."
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