USTR Tai: Still working on next trade actions with China

Dhwani Mehta FXStreet

United States Trade Representative (USTR) Katherine Tai said early Tuesday, “we're still working on next actions with China.”

Additional comments

“US is taking a methodical approach in Asia.”

“Biden's team believes that trade requires new ideas.”

Tai spoke ahead of a likely discussion scheduled between US President Biden and Treasury Secretary Janet Yellen on the administration’s review of Section 301 tariffs on circa $370 bn worth of Chinese goods.

In his speech on Monday, Biden said that the US is considering reducing tariffs on China.

Market reaction

AUD/USD is uninspired by the optimism on the US-Sino trade front, as it sheds 0.45% on the day to trade at 0.7074, as of writing.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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