The U.S. and China are moving closer to agreeing on the amount of tariffs that would be rolled back in a phase-one trade deal despite tensions over Hong Kong and Xinjiang, people familiar with the talks said.

France’s finance minister is threatening a “strong European riposte” if the Trump administration follows through on a proposal to hit French cheese, Champagne, handbags and other products with tariffs – of up to 100%.

U.S. stock index futures were higher Monday morning as market players monitored U.S.-China trade talks.

U.S. stock index futures were slightly higher Friday morning.

China’s chief trade negotiator said at a dinner Wednesday night that he was “cautiously optimistic” about reaching a phase one deal with the U.S., even as talks continue to stretch out amid tensions over Hong Kong and other issues.

U.S. stock index futures were lower Wednesday morning.