China extends the suspension of 24% tariffs on US goods for two months starting November 10, boosting market sentiment and lifting the AUD/USD pair by 0.41% to 0.6900 ahead of the APEC summit.
China's Finance Ministry will extend the suspension of the additional 24% tariff on US imports for two months from November 10, keeping only 10% tariffs, which eases trade-war pressure and lifts broader market sentiment. As a risk-sensitive currency, the Australian Dollar benefits, with AUD/USD testing 0.6900, up 0.41% on the day. The two-month limit and unknown longer-term suspension details cap the upside.
China extending the suspension of the 24% US tariff for two months from November 10 signals a trade de-escalation ahead of the Trump-Xi APEC meeting, which is supportive for the Chinese currency and risk sentiment, making the dollar weaker against the yuan. The pair is not directly quoted in the article, so the move is an inference from improved US-China trade relations.
China's Finance Ministry announced a two-month extension on the suspension of additional 24% tariffs on US imports, effective November 10. While 10% tariffs remain in place, the move signals a de-escalation ahead of the upcoming meeting between President Donald Trump and President Xi Jinping at APEC. The news has bolstered risk sentiment, pushing the AUD/USD pair up 0.41% to test the 0.6900 level.
China's extension of the suspension of the 24% US tariff from November 10 reduces trade-war tension, which lifts broader market sentiment and supports risk-sensitive currencies like the Australian Dollar, with AUD/USD testing 0.6900, up 0.41% on the day.
No. The suspension of the 24% tariff is extended for only two months, and the details of how long the suspension will ultimately last are not yet known, while 10% tariffs are maintained.
The two-month extension of the 24% tariff suspension effective November 10 de-escalates the trade conflict with the US, which is generally positive for Chinese assets and the yuan relative to the dollar, particularly ahead of the APEC leaders' meeting.