The US-China phase one trade deal would likely be signed in the next week, although US President Trump or US Trade Representative will confirm the same, said the White House’s trade adviser Navarro in an interview with Fox News on Monday.
Key Quotes (via Reuters):
“Never believe reports on anonymous sources. Get it from President Trump or … (U.S. Trade Representative Robert Lighthizer.”
“We’ll probably have a signing on that within the next week or so – we’re just waiting for the translation.”
The deal would be made public “as quickly as possible,” and that he did no expect any snags to hold it up.
“Basically you need to get it translated into Chinese and double-checked so both versions match.”
The 86-page agreement includes details on intellectual property, “a good start” on forced technology transfers and “some good language on currency manipulation.”
The market mood remains cautiously optimistic amid trade deal hopes and year-end repositioning. The US dollar continues to remain the laggard while Aussie trades above the 0.70 handle.
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