Citing sources familiar with the matter, Bloomberg reported on Friday that China is mulling suspending its 125% tariff on some US imports including medical equipment, ethane and plane leasing.
“Officials are also discussing waiving the tariff for plane leases,” sources added.
China’s Ministry of Finance and General Administration of Customs, however, did not respond to requests for comment.
Market reaction
Following these headlines, the US Dollar (USD) rebound has gathered steam across the board. At the time of writing, AUD/USD is trading 0.20% higher on the day at 0.6415 while the US S&P 500 futures are up 0.40% so far.
