Trump Signs Phase One China Trade Deal, Avoiding Brutal December Tariffs

Forbes | 12/12/2019 | Staff
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The long-awaited trade deal has finally happened.

Topline: President Donald Trump has signed off on a phase one trade deal with China, crucially avoiding a looming December 15 tariff deadline, after negotiators from both sides agreed upon terms earlier on Thursday, Bloomberg first reported.

US - China - Terms - Phase - Deal

The U.S. and China agreed upon terms for the so-called phase one deal, with Trump signing off on the deal later in the day, leading Wall Street investors to rejoice.

After months of drawn out negotiations to hammer out the terms of the phase one deal, first announced in October, the news sent the stock market surging to new records: The S&P 500 and Dow Jones Average were both up by around 0.80% on Thursday.

Deal - Promises - China - US - Farm

The deal reportedly includes promises by China to buy more U.S. farm goods, Bloomberg reported.

According to a report from the Wall Street Journal, U.S. negotiators have offered to slash existing...
(Excerpt) Read more at: Forbes
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