China said to be unwilling to budge on big structural changes, risk takes a big hit
The latest headlines from Bloomberg are crossing the wires now, citing that China is said to doubt if the long-term trade deal is possible with the US President Trump.
The report further adds that China is reportedly unwilling to compromise on big structural changes.
Earlier today, Bloomberg reported that the US is considering extending some tariff exclusions expiring Dec.28 and that the USTR is seeking the public comment on whether to extend some exclusions.
The risk sentiment takes a big knockdown on the renewed trade jitters, with the report coming in just a day ahead of the phone call between the lead trade negotiators from the US and China.
USD/JPY drops further to 108.36 lows while S&P 500 futures drop -0.22% to 3,040 levels. The benchmark US 10-year Treasury yields are down 5 bps to 1.75% on fresh trade woes, set for biggest daily fall in four weeks