US-CHINA: USTR Greer Holds 'Candid' Introductory Call With Vice Premier He

Mar-26 13:53

The office of the United States Trade Representative has issued a statement confirming that USTR Jamieson Greer has held an 'introductory' call with Vice Premier He Lifeng to "exchange views on the U.S.-China economic and trade relationship." The two "agreed on the importance of maintaining communication going forward," according to the readout. 

  • The USTR readout notes: "During their candid discussion, Ambassador Greer outlined how President Trump is establishing a robust and reinvigorated trade policy that promotes domestic investment and productivity, enhances America’s industrial and technological advantages, defends our economic and national security, and benefits American workers and businesses. He also expressed serious concerns about China’s unfair and anticompetitive trade policies and practices."
  • Xinhua notes, per Reuters, that "both sides had 'candid and in-depth' exchange of views on key issues on economy and trade," with He expressing, "solemn concerns on US tariffs and planned 'reciprocal' tariffs".
  • The call comes after Senator Steve Daines (R-MT), a key ally of President Donald Trump who acted as an intermediary between Washington and Beijing during Trump's first term, travelled to China last week for meetings with senior government officials. The trip was seen as the first major step towards kickstarting US-China trade negotiations.
  • Daines said: “It’ll be difficult to have any conversation about tariffs and non-tariff barriers until the fentanyl precursor issue is resolved,” adding he, "made it clear that President Trump needs to see China take decisive actions to stop the flow of fentanyl precursors."

Historical bullets

GOLD: Looking to test the record high

Feb-24 13:52
  • Gold makes an attempt at the record high printed on Thursday at $2954.84.
  • The main focus around the Globe would be a test to $3000.00, but ahead of that level, next resistance comes at $2962.2 - 2.00 proj of the Nov 14 - Dec 12 - 19 price swing.

CANADA DATA: Q4 Business Profits +2.1% Led By Non-Financials

Feb-24 13:49
  • Canadian Q4 corporate net income before taxes +2.1% to CAD164.5B.
  • Increase driven by non-financial sector +3.2% led by telecommunications, motor vehicle manufacturing and mining while decline in pharmaceutical, petroleum and coal moderated those gains.  
  • Financial sector -0.7%. Banking and other depository credit intermediation industry contributed most to sector decline due to asset sales and increase in non-recurring expenses. Gains in dividends and interest income partially offset decreases.  

US TSY FUTURES: BLOCK: Mar'25 10Y Buy

Feb-24 13:43
  • +5,300 TYH5 109-17.5, post-time offer at 0830:02ET, DV01 $335,000. The 10Y contract remains under pressure, however, trading 109-16 last (-6).