China has “fallen far short of implementing its commitments to purchase US goods and services in 2020 and 2021,” the Wall Street Journal (WSJ) reports, citing a report from an Office of the US Trade Representative to Congress.

“To the extent that China’s unfair, nonmarket and distortive policies and practices persist, the United States is prepared to use domestic trade tools strategically as needed in order to achieve a more level playing field with China for US workers and businesses,” the report said.

Market reaction

The market mood remains cautious amid looming Russia-Ukraine concerns, although AUD/USD remains underpinned by a strong Australian jobs report.

The above headlines fail to deter the aussie bulls, as the spot currently trades at 0.7204, up 0.21% on the day.