Beijing still not close to meeting demands of US-China trade deal – SCMP
|A headline from the South China Morning Post (SCMP), published Tuesday’s early Asian session, suggests challenges to the global risk-on sentiment. The news relies on China’s imports of the US goods under the trade agreement between Washington and the dragon land to suggest further hardships for the market’s mood.
Only one-third purchase?
The news mentions that China has so far, through August, purchased nearly 33% of the previously agreed US goods. The latest customs data, as per the update, suggests a 25% hike in imports from America. “The agreement dictates that China’s purchases should be US$200 billion higher than 2017’s levels, and on those terms, China is still miles away,” mentions the SCMP piece.
Reasons cited include the Trump administration’s anti-China moves, comprising sanctions on the cotton imports from Xinjiang.
Other than the risk to the US-China trade deal, the piece also portrays the risks to US President Donald Trump ahead of the American elections while citing failures to keep promises of Chinese demand.
Market sentiment stays positive…
As the news can be considered as a continuous noise, S&P 500 Futures paid a little heed to the risk-challenging update. While doing so, the risk gauge prints 0.25% gains to 3,353 by the time of the press.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.