China will take down trade barrier, says US President Donald Trump

Trump reacts as he departs the White House for a trip to Lewisburg West Virginia in Washington D.C. U.S

Trump reacts as he departs the White House for a trip to Lewisburg West Virginia in Washington D.C. U.S

Kudlow said a "coalition of the willing" was being formed to pressure President Xi Jinping, including by taking the issue to the World Trade Organization, to crack down on China's trade practices.

A deal addressing China's theft of USA intellectual property is also expected to be made.

Top members of Trump's economic team, speaking on Sunday morning talk shows, defended the US threats to impose tariffs on Chinese imports and framed the moves as part of a longer-term strategy for growth - while suggesting a trade war can be averted.

Beijing said it hoped the United States would pull back "from the brink" of a trade war.

Trump increased levies on Chinese imports last week over allegations China has been ripping off US technology for its own gains.

Trump and China's government escalated their trade clash Friday, with Beijing vowing to "counterattack with great strength" if Trump follows through on threats to impose tariffs on an additional $100 billion in Chinese goods.

Then China responded by saying it would enact penalties on $50 billion worth of United States products.

"The same sort of strategic resolve that China had in the Korean war is being built up across the country to beat the Trump administration's trade attack", it said in an editorial on Saturday.

Among those critical of the U.S. administration's moves on the trade front, Nebraska Republican Senator Ben Sasse told NBC: "Hopefully the president is just blowing off steam again, but if he's even half-serious, this is nuts [.] The president has no actual plan to win right now". Beijing also declared that the current rhetoric made negotiations impossible, even as the White House suggested that the tariff talk is a way to spur China to the bargaining table. "The WTO is unfair to USA". The Dow Jones industrial average lost 572 points Friday after being down as much as 767.

Trump on Friday acknowledged there could be "a little pain" ahead for the United States, while emphasizing that his goal is to ensure the USA emerges a much stronger country in the end.

On Friday, Kudlow said that the USA and China are holding "back-channel discussions" to resolve the escalating trade dispute.

He reiterated that in an interview on CNN's State of the Union show on Sunday, saying, 'This process might turn out to be very benign.

The US had not only set up "iron door" to limit the market access of foreign capital but also played tricks to hamper investors' post-investment operations, putting Chinese investors in a weak position and offering them few solutions, People's Daily said.

"We're talking about a lot of money that goes down, just on the speculation of having a tariff put in place", Rounds said on "Meet the Press".

U.S. Treasury Secretary Steven Mnuchin said on the CBS program Face The Nation there was a risk of a trade war between the United States and China but that he did not expect one. He declined to comment on the progress of any back-channel talks with Beijing.

"The US is set to become a public enemy of global multilateralism", it said.

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