S&P 500 Futures: Back on the bids as China extends tariff exemption on US goods imports

Dhwani Mehta FXStreet

Customs Tariff Commission of China is out with a statement on Tuesday, citing that Beijing extends tariff exemption on some of the US goods imports.

China’s Finance Ministry said that the tariff exemption extension applies to products from the US such as lubricants.

The announcement comes as the current exemption is set to expire on September 16.

Note that China's compliance with buying the US products under the Phase 1 trade agreement is about to reach just 50% of the target.

Market reaction

The risk sentiment got a lift on the upbeat Chinese activity data and the above headlines, as S&P 500 futures jumped back on the bids to test 3380 levels.

Meanwhile, AUD/USD held the higher ground above 0.7300, adding 0.27% on the day.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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