The trade negotiations between the United States and China are still going on at full steam. The two countries are working towards a phase one agreement, which would then hopefully be a stepping stone to a more comprehensive trade treaty.
According to the reports, the United States is using the tariffs scheduled for December 15 as leverage. China, on the other hand, is also asking the US to lift some of the duty fees that were imposed in September. The Chinese government has stated that the ultimate goal is to have the United States cancel all of the tariffs.
The presidents of the two countries are still set to meet later this month, despite the fact that their earlier plans for a Chile summit fell through.
As a result of the positive developments in the trade negotiations, safe haven assets such as the Japanese yen are losing out to the American dollar. Thanks to the higher risk appetite on the markets, the euro, the pound, and the Australian dollar all managed to make small gains versus the dollar.
