Former Chinese Vice CommerceMin: Beijing won't agree if the US does not cancel some tariffs – Global Times

Dhwani Mehta FXStreet

The Chinese Global Times is out with the latest comments on the US-China likely Phase One trade deal, citing Wei Jianguo, former Vice Minister of Commerce.

“The US is "very anxious' to reach a trade deal with China but Beijing won't agree if the US does not cancel some tariffs”, Jianguo noted.

The Chinese news outlet also cites some sources, as saying that “China will not accept a phase one deal if the US only suspends new tariffs that it has threatened to impose on Chinese goods.”

The market mood appears rather cautious at the Tokyo open, as markets take into account the latest trade-related updates, with the reports raising doubts that may risk a likely Phase One trade deal between the US and China.

The USD/JPY pair trades little changed around 109.15, Treasury yields turn south while S&P 500 futures trade flat so far this Wednesday.

Beijing has doubled down on demands that may threaten trade agreement with the US – Nikkei

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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