China’s Ministry of Commerce spokesperson said on Friday, China does not seek to engineer a trade surplus with the US and views its trading relationship as determined by multiple factors such as different economic structures, the international division of labor, and US export controls to China.

 The spokesperson said that China called on the US to remove trade restrictions on China, which is beneficial to both sides.

The spokesperson said forcing the sale of TikTok would undermine the confidence of foreign investors in the US and should be opposed.

Market reaction

At the time of writing, AUD/USD is off the lows but remains on the offers near 0.6675 amid a broad US Dollar.