Failed US-China trade deal now used as benchmark for tariff rollback – Bloomberg

China and the United States are looking to use the trade deal from May that sides failed to reach as the benchmark on how much tariffs rolled back, Bloomberg reported citing two sources familiar with the talks on Tuesday.

Further details of the article show that the White House is looking to reduce tariffs by 35% to 60% and the opposition to the tariff rollback in the US has softened.

The 10-year US Treasury bond yield recovered modestly on this headline but was still down around 1.5% on a daily basis.