Kudlow said at an event hosted by The Washington Post that the US remains engaged in trade talks with China and that China is abiding by the phase one trade deal.

He said China is living up to the initial agreement that included specific targets for purchases of agricultural products like soybeans. In addition, there seem to be some positive movements with respect to setting up new laws and legal bodies, judiciary bodies, to stop theft of intellectual property, he added.

Chinese Foreign Minister Wang Yi assured US executives during a video conference on Sunday that Beijing remained committed to the phase one trade deal with the US, according to US-China Business Council President Craig Allen.