Beijing, Washington Far Apart On Trade: Kudlow

Beijing and Washington are still a "sizeable distance" apart in trade talks, and no date has been set for a meeting between the countries' leaders, a top White House adviser said on Thursday.

The remarks helped deepen losses on Wall Street, which opened lower on Thursday following downbeat economic forecasts for major European economies.

President Donald Trump last week said he expected to meet China's President Xi Jinping in person "in the near future" to seal a final trade deal.

But top White House economist Larry Kudlow told Fox Business on Thursday that "No date has been set, no time, no place, no nothing at the moment."

And while Trump was "optimistic" about prospects for a deal, there remains a "sizeable distance" separating the two sides, Kudlow said.

Last week, Trump and Chinese officials had expressed optimism during the second round of talks in Washington about chances of striking a bargain but they released few details about progress in their talks.

The two sides have three weeks before US duty rates on many Chinese goods are due to jump sharply, which economists say could further weaken the global economy. (AFP)