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Trump and Chinese Vice Premier Liu He

U.S. President Donald Trump said on Wednesday that European leaders were coming to Washington next week to try to hammer out a deal focused largely on vehicle tariffs, while his top economic adviser accused Chinese President Xi Jinping of holding up a U.S.

He also referred to America's expanding trade deficit with China as "wrong" and believes that "the problem is getting worse and worse". "We don't want to be with the tariffs", he added, saying they could hurt USA companies' ability to compete around the world.

Earlier this month, the White House slapped 25 percent in tariffs on Chinese goods worth $34 billion - and Beijing immediately hit back with duties on US goods valued at $34 billion.

"There's no recession in sight right now", Kudlow said at an investor conference in NY.

Trump this month also leveraged steep tariffs against historic USA allies including the European Union and Canada, as well as Mexico.

The US has threatened to hit another $200 billion worth of Chinese imports with tariffs because of China's retaliation to the previous round of tariffs.

"The president [Trump], is so dissatisfied with China on these so called talks, that he is keeping the pressure on and I support that".

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China's ambassador to the USA warned the Trump administration Wednesday that tariffs on China will backfire and Washington will "only end up hurting itself and the world".

Trump imposed the tariffs after an Office of the U.S. Trade Representative investigation concluded China was violating intellectual property rules and forcing U.S. companies operating in China to hand over technology secrets in exchange for access to the Chinese market. China's Xi has the power to stop the tit for tat trade war, but is not willing to do so.

"President Trump inherited this mess and a broken trading system ..."

"Don't blame Trump, blame China", he said.

Kudlow also said he expects European Commission President Jean-Claude Juncker to make a trade offer when he meets with Trump at the White House next week. "We are waiting for him".

Kudlow said on Wednesday that Xi was "holding the game up". He added that the ball is in President Xi's court.

Asked about Mr Kudlow's comments, China's foreign ministry spokesman Hua Chunying said: "That the relevant United States official unexpectedly distorted the facts and made bogus accusations is shocking and beyond imagination".

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