US Treasury Sec Mnuchin: President Trump just wants a level playing field with china - FBN interview
|US Treasury Secretary Mnuchin has crossed the wires and stated that President Trump just wants a level playing field with China, speaking in a FBN interview.
- Phase one deal is a step in the right direction.
FX implications
The Aussie is the proxy to the trade deal news and will be soaking up the sentiment.
Trade deals are expected to continue to be prominent news in the year ahead. "US trade negotiator, Kudlow, says the US-China Phase One deal will double the value of the goods China will import from the US, reportedly including agricultural products, energy goods and industrial goods. But Trump has said a 25% tariff will remain in place to be used as a negotiating tool for Phase Two. A Chinese official has stated that imports of pork and poultry are urgently needed," analysts at ANZ Bank explained.
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