Larry Kudlow confirms U.S. will not remove tariffs until China deal is in place

It’s official: The White House will not be phasing out tariffs until the trade agreement with China is signed.

White House economic adviser Larry Kudlow told CNBC on Tuesday that there will not be any tariff adjustments until a U.S.-China deal is made.

He did note that a phase one agreement might consist of some adjustments to the tariffs that are currently in place. However, neither Washington nor Beijing may not make such a move until a deal is in place.

Kudlow confirmed that both sides have made progress in agriculture, commodity, currency stability, financial services, and IP theft.

Speaking at the Economic Club of New York, President Donald Trump said a U.S.-China agreement will be signed “soon.”