USTR Tai: Still working on next trade actions with China
|United States Trade Representative (USTR) Katherine Tai said early Tuesday, “we're still working on next actions with China.”
Additional comments
“US is taking a methodical approach in Asia.”
“Biden's team believes that trade requires new ideas.”
Tai spoke ahead of a likely discussion scheduled between US President Biden and Treasury Secretary Janet Yellen on the administration’s review of Section 301 tariffs on circa $370 bn worth of Chinese goods.
In his speech on Monday, Biden said that the US is considering reducing tariffs on China.
Market reaction
AUD/USD is uninspired by the optimism on the US-Sino trade front, as it sheds 0.45% on the day to trade at 0.7074, as of writing.
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