On Thursday, China sentenced three nationals to maximum punishments for smuggling fentanyl to the U.S., in one of its highest-profile moves yet against the illicit flow of opioids that Trump has made a bone of contention in broader trade talks between Washington and Beijing.
In another move, China’s General Administration of Customs and Ministry of Agriculture are studying the removal of curbs on U.S. poultry imports, Xinhua reported, without providing more details.
Trump administration officials in recent days have expressed optimism that phase one of a comprehensive trade deal might come together this month, helping boost equity markets to records this week.
Given repeated reversals in the more than year-long trade war, investors are waiting for further confirmation of progress between the two sides.
“I am skeptical on how fast the progress will be,” said Iris Pang, economist with ING Bank NV in Hong Kong. “How fast the roll back will be is critical to get material and long-lasting positive sentiment for the market as well as for both economies.”
This article was provided by Bloomberg News.