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China is fulfilling its trade obligations on commodity purchases, White House economic adviser Larry Kudlow told reported on Tuesday. 

Kudlow further noted that Saturday’s trade meeting with China is “routine” and responded “no” when asked if the phase one trade deal with China could go out the window.

Commenting on the coronavirus aid developments, “additional coronavirus relief unemployment benefits will go out in two weeks under President Trump’s executive order,” Kudlow said. “We will bond out money to cover social security and medicare under Trump’s executive order on payroll tax deferral.”

Market reaction

The S&P 500 and the Dow Jones Industrial Average continue to trade in the positive territory after these comments and were last seen gaining 0.47% and 1.02%, respectively.