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National Economic Council Director Larry Kudlow on Wednesday said there was "a sizeable distance" to go on trade talks with China. Speaking to Fox Business Network, Kudlow said previous talks covered "a tremendous amount of ground" but said enforcement will be very important, as well as technological and structural issues. Kudlow also said Trump's State of the Union speech -- and specifically, his comment the U.S. would not be socialist -- was "reassurance" to the business community. Kudlow also said European countries should be cutting taxes and eliminating regulations. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.