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December 13, 2019

Trump Signs Off on Phase One of China Trade Deal; Stocks Surge

He's a madman. He's blowing up the world with these trade deals and non-wars.

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.

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 tariffs, which cover roughly $360 billion of Chinese goods, by 50%.

The U.S. will also cancel the next round of China tariffs, planned to take effect on another $156 billion of Chinese goods on December 15, the report said.

Stocks are a bit up and down today. It's expected that the Brexit victory plus the China deal will bode well for the market.


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posted by Ace of Spades at 12:01 PM

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