‘Broad trade consensus reached; differences remain on tariffs’

The Global Times is out with additional details from the US-China trade call, as cited by an expert closely following the trade talks.

Gao Lingyun, an expert at the Chinese Academy of Social Sciences in Beijing who is close to the trade talks, told the Global Times, "The two sides have basically reached broad consensus for the phase one agreement. The two sides are still moving closer to reaching a phase one deal soon, unlike the "contradictory information" in media reports.”

“The two sides have even agreed to roll back tariffs as part of the phase one deal, but there were different opinions over which tariffs should be removed or to what degree the tariffs should be lowered,” Gao added.

China, US may have discussed agri purchases, face-to-face meeting in the call – Global Times

The latest trade-positive headlines suggesting that the US-China trade talks have gathered momentum failed to boost the Asian sentiment further, as investors still remain wary over the tariffs rollback and phase one agreement.

The Asian stocks are trading mostly mixed, with a sense of caution while S&P futures turn flat on the day, dragging USD/JPY lower from ten-day tops of 109.19 to now trade near 108.95 region.

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