There was confusion over comments made by White House trade advisor Peter Navarro over the status of the U.S.
A person familiar with both USA and Chinese thinking on the trade deal said that Navarro's comments appeared to be a "slip of the tongue", reflecting his personal hawkish views on China and not administration policy.
Trump tweeted: "The China Trade Deal is fully intact".
US stocks are likely to continue their climb higher today, with futures tied to the S&P 500 ahead by 0.7%, as the manufacturing and services sectors begin to recover from lockdowns. "They came here on January 15th to sign that trade deal, and that was a full two months after they knew the virus was out and about", he said.
"Oil prices need a healthy relationship between the USA and China", said Edward Moya, senior market analyst at OANDA in NY.
"We had expected U.S".
"It's over", Navarro told Fox News in an interview when asked about the trade agreement.
United States Trade Representative Robert Lighthizer testified on Capitol Hill last week that he is confident China will live up to its purchase commitments even though its economy has been weakened by the coronavirus pandemic and the lockdowns and travel restrictions imposed to contain it.
As part of Navarro's provocative Fox Business interview, he also alleged without offering any evidence that China had sent hundreds of thousands of people "to spread that virus" in the U.S.
Speaking during the opening bell, she also noted that USA equity markets opened higher on Tuesday "because of the walking back of that statement and the president's tweet saying the phase one deal is very much in place". -China trade pact was welcomed by economists earlier this year, after nearly two years of tariffs and tensions between the countries.The economic fall-out weighed on financial markets and heaped tariffs of $370 billion of Chinese products, denting global growth.
Oil prices were little changed on Tuesday, hovering near their highest levels since early March after U.S. President Donald Trump soothed jangled nerves over U.S.
"My comments have been taken wildly out of context", Navarro said in a statement.
Prices had risen earlier in the session, with the reopening of some US states and countries around the world after coronavirus lockdowns sustaining a rally as demand for fuel returns.