US tariffs on China to stay until after 2020 election – Bloomberg

The United States will not remove tariffs on Chinese imports until after the 2020 presidential election, Bloomberg reported on Tuesday.

The US wants to verify China's adherence to the deal before removing tariffs.

With the initial market reaction, Wall Street's main indexes lost traction with the S&P 500 and the Nasdaq Composite both dropping into the negative territory to reflect souring market sentiment. The USD/JPY pair also quickly erased 20 pips before recovering and was last up 0.08% on the day at 110.