US Pres. Trump: Do not think China is stepping up to the level I want in trade talks

The United States (US) President Donald Trump crosses wires, via Reuters, while giving further negative signals surrounding the phase one deal with China.

Key quotes

“When you build things in the US, you do not have to worry about tariff.”

“We are looking at whether Apple should be exempt from China tariffs.”

“Do not think China is stepping up to the level I want in trade talks.”

“China wants a deal more than me.”

FX implications

Markets keep the risk-off active amid signals of no phase one trade deal between the global superpowers. As a result, safe-havens could stay strong while trade-exposed currencies like the Australia dollar (AUD) might have to witness further downside.