Mexico's Obrador: Agreement reached in USMCA over labour, steel and aluminium

The United States, Canada and Mexico have reached an agreement over labour, steel and aluminium in the United States-Mexico-Canada Agreement (USMCA) trade agreement, Mexican President Andres Manuel Lopez Obrador said on Tuesday. 

"Representatives from Canada and US governments will arrive in Mexico today to sign the USMCA trade deal," Obrador noted. "We're convinced it's a good deal for Mexico, Canada and the United States."

Combined with the Wall Street Journal report claiming that the US and China were planning to delay the tariff hike that is scheduled to go into effect on December 15th, the market sentiment seems to have turned positive in the early American trading hours on these comments. At the moment, the 10-year US Treasury bond yield was flat on the day at 1.825%.