S&P 500 Futures: Back on the bids as China extends tariff exemption on US goods imports
|Customs Tariff Commission of China is out with a statement on Tuesday, citing that Beijing extends tariff exemption on some of the US goods imports.
China’s Finance Ministry said that the tariff exemption extension applies to products from the US such as lubricants.
The announcement comes as the current exemption is set to expire on September 16.
Note that China's compliance with buying the US products under the Phase 1 trade agreement is about to reach just 50% of the target.
Market reaction
The risk sentiment got a lift on the upbeat Chinese activity data and the above headlines, as S&P 500 futures jumped back on the bids to test 3380 levels.
Meanwhile, AUD/USD held the higher ground above 0.7300, adding 0.27% on the day.
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