The US Treasury has been reported to be considering starting November 1st extensions of certain tariff exclusions on $34bln of Chinese imports.
Key notes:
- USTR exclusions on certain tariffs are set to expire Dec. 28, an extension would be for 12 months.
- USTR S Treasury to consider delay of further tariffs on Chinese imports.
FX implications:
Leaders of the world’s two biggest economies are working to agree on the text for a “Phase 1” trade agreement announced by Trump on October 11. Trump has said he hopes to sign the deal with China’s President Xi Jinping next month at a summit in Chile which is risk-on friendly and a likely weight to the Yen while giving the commodity complex a boost, supporting the Aussie.
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