The comment comes days after he warned he would impose tariffs on all China's shipments to the United States before saying he thought he could "make a great deal with China" but it was not yet ready.

But within hours of the upbeat assessments, the US Justice Department took aim at another Chinese firm it accused of unfair practices, part of an across-the-board pressure campaign by the Trump administration targeting China. "We talked about many subjects, with a heavy emphasis on Trade", Mr Trump tweeted. Both sides reported that they had constructive discussions on North Korea and trade, with Chinese state media saying that Trump supported "frequent, direct communication" between the presidents and "joint efforts to prepare for" the planned meeting on the sidelines of the Group of 20 summit, which is scheduled to take place from from November 30 to December 1.

The yuan had come under intense pressure to weaken of late, as slowing growth in China and trade tensions with the US prompted investors to shift away from riskier emerging-market assets.

Optimism for a possible trade deal between the world's two largest economies helped the yuan pare its loss over the past six months to 7.5 percent, and eased concerns that the Chinese currency would soon hit the psychological milestone of 7 per dollar for the first time since the global financial crisis.


China and the United States are locked in an increasingly bitter trade war, with both countries have already placed tariffs on some of each others imports.

'We're going way up, and China has been hurt over the last number of months.

Officials are working to resolve differences ahead of upcoming talks between President Trump and his Chinese counterpart Xi Jinping. But Kudlow cautioned that Trump would "aggressively" pursue his agenda against China, if no deals were reached on intellectual property theft, cybersecurity and tariffs on commodities, among other issues. "I don't think they're ready yet".

The United States has imposed tariffs on US$250 billion worth of Chinese goods, with duties on US$200 billion of the total set to increase to 25 per cent from 10 per cent on Jan 1, 2019.


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