US President Joe Biden has postponed a final decision to withdraw any Trump-era tariffs on China imports, Bloomberg reports, citing people familiar with the matter.
One administration official said, “the Office of the US Trade Representative announced a tariff review last Friday that will allow businesses the opportunity to seek relief by weighing in on whether they think any particular tariff is costing US jobs or competitiveness.”
Meanwhile, Taiwan's President Tsai Ing-Wen while visiting the US lawmakers, said that “Taiwan will collaborate with the US to strengthen economic and commercial ties.”
Responding to the Taiwanese President, representative Stephanie Murphy of the US noted that “one of the most essential things congress can do is improve economic relations with Taiwan, including through a high-quality free trade agreement between the US and Taiwan.”
Market reaction
Poor Australian trade data combined with these discouraging US-China headlines are keeping AUD/IUSD under sellers’ radars. The pair was last seen trading at 0.6745, down 0.33% so far.
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