U.S. government debt prices were lower on Tuesday after President Trump said that a breakthrough with China, if it happens, will be announced in three to four weeks.
Traders are closely monitoring trade relations between the U.S. and China. This comes after China announced new tariffs on U.S. goods in response to newly-imposed duties by the White House. China announced Monday that it will raise tariffs on $60 billion worth of U.S. goods, beginning June 1. The goods targeted include a broad range of agricultural products.have brightened up prospects that there might be a deal in the coming weeks.
Elsewhere, traders will also watch new data releases with import and export prices out at 8.30 a.m. ET.Meanwhile, Kansas City Fed President Esther George will speak at 12:45 p.m. ET and San Francisco Fed President Mary Daly will speak at 6 p.m. ET.
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