There are two separate reports on China tariffs. The first from Bloomberg says China is weighing exempting some US goods from tariffs.
It’s not exactly comprehensive though:
“Authorities are considering removing the additional levies for medical
equipment and some industrial chemicals like ethane, the people said … Officials are also discussing waiving the tariff for plane leases, the people said.”
That’s not exactly a long list but it’s moving markets. You could argue that some small exemptions lay the groundwork for leaving the broader tariffs on for longer.
A separate report from Caijing cites several Chinese tech companies who confirmed that 8 tariff codes related to semiconductors and circuits are now exempt from additional tariffs.
USD/JPY is at the highs of the day, up 66 pips to 143.29 last. There are some broader USD bids as well.
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