U.S. Weighs Currency Pact With China as Part of Partial Deal

The White House is looking at rolling out a previously agreed currency pact with China as part of an early harvest deal that could also see a tariff increase next week suspended, according to people familiar with the discussions.

The currency accord, which the U.S. said had been agreed to earlier this year before trade talks broke down, would be part of what the White House considers to be a first-phase agreement with Beijing. It would be followed by more negotiations on core issues like intellectual property and forced technology transfers, the people said.

The internal deliberations come as a team of Chinese negotiators, led by Vice Premier Liu He, arrived in Washington to resume trade talks with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin starting Thursday. It’s the first face-to-face talks between senior officials since July.

The offshore yuan rose more than 0.3%, erasing an earlier loss. U.S. stock futures whipsawed Thursday morning in Asia amid uncertainty about the outcome of the negotiations.

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