US Pres. Trump: “China trade deal is fully intact“
|US President Donald Trump took to Twitter to affirm that the US-China trade agreement remains in place after the epic drama witnessed across the financial markets on White House Trade Adviser Peter Navarro’s comments.
Trump tweeted out: “The China Trade Deal is fully intact. Hopefully, they will continue to live up to the terms of the Agreement!”
Earlier today, Navarro said in a Fox News interview that the trade deal with China has fallen apart. He quickly walked back on his comments and clarified that the trade deal remains unchanged while speaking to the Wall Street Journal (WSJ).
WH Economic Adviser Larry Kudlow also appeared to clarify that the trade agreement is intact.
Market reaction
Amid the chaos surrounding the trade deal between the two countries, volatility spiked up and the risk sentiment saw a good two-way action in Asia this Tuesday.
At the time of writing, the risk is seen stabilizing to pre-Navarro levels. AUD/USD is back at weekly highs above 0.6900 while USD/JPY breaks through 107.00 to test highs at 107.20.
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