China wants Dec.15 tariffs cancelled as minimum pre-condition for continued talks – CNBC

Chinese negotiators want the US' December 15 tariffs cancelled as a minimum pre-condition for continued negotiations of phase one of the trade deal, CNBC's Beijing Bureau Chief Eunice Yoon reported on Wednesday, citing Chinese experts who follow trade talks.

"China is “extremely reluctant” to commit to massive concrete figures for US farm goods (if China agrees, it would be considered major concession)," Yoon tweeted out. "Still bottom basement level of trust Trump team won’t toss out any deal."

The market reaction is relatively muted so far to these comments. As of writing, the 10-year US Treasury bond yield was down 1.3% on the day while the USD/JPY pair was flat at 108.70.