White House confirms that it wants best trade offers by Wednesday

The White House confirmed today that it sent a letter asking nations to submit their
best trade offers by Wednesday.

The progress around trade deals since ‘Liberation Day’ has been painstaking and now we wait to see what the Trump administration is planning.

Reuters obtained the letter, which asked countries for their best offers on tariffs, quotas for purchases
of US products, and plans to kill other non-tariff barriers.

I wouldn’t assume that we will see immediate retaliation or action from the White House. The NY Post reported that the letter was meant as a progress check on trade partners, not
necessarily a request for a final offer, citing an official close to the matter.

Update: The White House says Trump-Xi call will be held ‘very soon’

That’s a great sign and something that the market has been front-running today after the comments from diplomats.

This article was written by Adam Button at www.forexlive.com.