White House adviser Peter Navarro: There is no agreement at this time to remove any of the existing tariffs

Comments from White House Director of Trade and Manufacturing Policy Peter Navarro are crossing the wire via FOX Business:

There is no agreement at this time to remove any of the existing tariffs as a condition of the Phase One deal. And the only person who can make that decision is President Donald J. Trump. And it's as simple as that.

Navarro's comments may weaken the bid tone around the risky assets and could bode well for JPY and other safe havens.