Following the comments from China’s Commerce Ministry, US Trade Representative Katherine Tai said that “Phase 1 trade deal is very important but its only one piece of the overall relationship with China.”
“The US still faces very large challenges with China across the board,” Tai added.
China’s highly influential media outlet, Global Times, tweeted out: “Chinese Vice Premier Liu He held phone talks with US Trade Representative Katherine Tai on Thursday, during which the two conducted candid, pragmatic and constructive exchanges in an attitude of equality and mutual respect: commerce ministry.”
With confirmation from both sides about upbeat trade talks, the risk sentiment is recovering ground in Asia.
The S&P 500 futures trim losses to head back towards 4,200. Meanwhile, the Chinese proxy, AUD/USD is bouncing back towards 0.7750, flipping to gains, as the time of writing.
