|

China’s CommerceMin Spokesman Gao: Tariffs “should' be rolled back as part of deal – Global Times

China's Global Times was out with the latest comments from the Chinese Commerce Ministry Spokesman Gao Feng, as he noted that tariffs "should' be rolled back as part of the deal.

Gao said: "The trade war began with tariffs and should end with removing them," Gao said. "The size of the tariff cuts should reflect the importance of phase one deal. It should be decided by the two sides."

Fox Business News and CNBC cited last hour that another deputy level trade talks between US-China trade teams will be held later on Friday. Meanwhile, the US White House speaker Pelosi said in the US last session that USMCA deal between Dems and the Trump admin is “imminent.”

The upbeat developments surrounding the trade issue with the US seems to have somewhat lifted the market sentiment in the overnight trades. However, the sell-off in the US Treasury yields across the curve kept the investors unnerved, as the focus now shifts to Friday’s trade talks.

Author

Dhwani Mehta

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.

More from Dhwani Mehta
Share:

Editor's Picks

EUR/USD revisits 1.1780, or daily lows

EUR/USD now comes under further selling pressure, breaking below the 1.1800 support to reach daily troughs on Thursday. The pair’s decline comes in response to a sudden bout of USD strength amid steady geopolitical tensions. Ealier in the day, the ECB’s Lagarde delivered cautious remarks, although the currency remained apathetic.

GBP/USD makes a U-turn, challenges 1.3500

GBP/USD rapidly leaves behind Wednesday’s strong advance, putting the 1.3500 support to the test on Thursday. Cable’s deep pullback follows the strong gains in the Greenback, while investors continue to pencil in a potential BoE rate cut in March.

Gold sticks to the bid bias, flirts with $5,200

Gold is now facing some downside pressure, hovering around the $5,170 region on Thursday. The precious metal adds to Wednesday’s optimism despite the Greenback trades in a firm fashion, although geopolitical tensions in the Middle East keep the yellow metal bid for now.

Stellar: Relief bounce fades as bearish undertone persists

Stellar is trading around $0.16 at the time of writing on Thursday after rebounding more than 8% in the previous day. Derivatives data paints a negative picture as XLM’s short bets hit a monthly high while Open Interest continues to decline.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Bitcoin steadies as traders eye US–Iran talks

Bitcoin (BTC) price is stabilizing around $68,000 at the time of writing on Thursday after a 6.2% relief rally the previous day amid a broader downward trend.