The Politico recently came out with the trade positive news quoting the US Chamber of Commerce CEO Tom Donohue while saying that that the US Trade Representative (USTR) Robert Lighthizer told top business executives on Monday that there is still much work to be done to reach a trade deal with China despite the two sides having been close to an agreement earlier this year.
The news report further mentions that the US Commerce Chief said Lighthizer didn’t mention the possibility of an interim deal that could deescalate trade tensions by further delaying tariff escalation.
It was additionally noted that the deputy-level trade officials from the U.S. and China will meet on Friday to prepare for an early October meeting between Lighthizer, Treasury Secretary Steven Mnuchin, Chinese Vice Premier Liu He and other senior Chinese officials.
FX implications
Despite having no immediate market impact, the news shows the US-side readiness for a good deal that adds to the recent goodwill gesture and can help the commodity-linked currencies like Dollars of New Zealand, Australia and Canada.
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