The U.S. deficit with China was $347 billion last year, according to the U.S. Census Bureau. That's nearly double the amount of next three largest U.S. trade deficits combined.
The U.S. will need help from its allies to convince the Chinese to slow production of goods like steel, said Scott Kennedy, deputy director of the Center for Strategic and International Studies' freedom chair in China studies. But so far, he said, the Trump administration has criticized them, too.
"The Trump administration is pushing as hard on Korea, Japan and others that have trade surpluses with the U.S. at the same time as they're pushing on China, and we all need to actually work together to deal with the China problem," Kennedy told CNBC's "Power Lunch" on Wednesday.