US Trade Representative Robert Lighthizer expressed optimism that the Trump administration would be able to smooth things out with China enough to avert a trade war – at least for the time being.
Speaking to CNBC regarding the success in coming to agreement with South Korea on trade, Lighthizer responded to whether the same was possible with China.
“Yes, I think there is hope,” he said. However, he added “we have two different systems. We have one that is state capitalism and we have one that is market economy-driven. There’s going to be a certain amount of tension between the two.”
“But, I think it’s very possible that we can end up over a series of, over many years and over a series of difficulties […] working our way to a good place and this is the beginning of that process.”
Lighthizer added that he was hopeful something would happen on the North American Free Trade Agreement soon.
“I’m hopeful [on Nafta]. I’m optimistic we can get something done, in principle, in the next little bit”