China didn't change its position, won't cave to US pressure – Global Times

The Editor-in-chief of Chinese and English editions of the Global Times, Hu Xijin, tweeted on Monday, noting that the US and Chinese trade teams haven’t had any telephonic conversations, contradicting the US President Trump’s earlier comments, stating that “we have had two calls with China, they want to make a trade deal”.

Hu tweeted: “Based on what I know, Chinese and US top negotiators didn't hold phone talks in recent days. The two sides have been keeping contact at technical level, it doesn't have significance that President Trump suggested. China didn't change its position. China won't cave to US pressure.”

Risk assets are seeing a fresh round of selling on the above tweet, with USD/JPY off the 105.99 highs while S&P 500 futures pare gains alongside the European equities.