USTR Tai: Will back Australia in trade disputes with China
|US Trade Representative Katherine Tai told her Australian counterpart, Dan Tehan, on Wednesday, America is “closely monitoring” the ongoing Australia-Sino trade tensions and will support Canberra in addressing China’s state-led, non-market practices, the USTR said in a statement.
Key quotes
“The two ministers agreed to continue working to develop a digital trade policy that addresses the needs of workers and recognizes “the importance of collaboration among those with open, free, democratic systems.”
“ Tai conveyed that the United States stands with Australia to tackle this shared challenge and supports rules-based international trade to promote fair market-oriented trade practices.”
“She also told Tehan that the United States was committed to engaging with allies, including Australia, to address China’s policies that harm U.S. and Australian workers, businesses, and citizens.”
Market reaction
AUD/USD is recovering some ground above 0.7350, shrugging off the above headlines. However, the further upside appears elusive amid looming covid concerns and poor Australian data.
The spot was last seen trading at 0.7352, down 0.06% on the day.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.