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NewsBreak: U.S, China Reach Trade Deal in Principle – Report

Published 12/12/2019, 02:36 PM
Updated 12/12/2019, 03:06 PM
© Reuters.

Investing.com - The United States and China have reached a phase one trade deal in principle Thursday, Bloomberg reported.

  • The deal is awaiting a sign-off from President Donald Trump.

  • An announcement could come as early as this afternoon, Bloomberg said. Earlier, the Wall Street Journal reported that U.S. negotiators were preparing to offer to cancel the next round of import tariffs on Chinese goods and cut existing tariffs in return for guaranteed purchases of U.S. agricultural goods.

  • The S&P 500 spiked on the report, up 0.75%. Earlier in the day, the index had been up 1.1% before falling back to a 0.4% gain.

Latest comments

don't be smart money's liquidation. Dec 2018 was the time to be optimistic. if you're buying this, you're doing exactly what's necessary to be wrong.
I hate this kind of negotiation strategy
is this a trade deal ??? someone wants us to believe it is !!!!
What kind of deal is this? Chinese were already buying US agricultural goods before the trader war started, and Chinese reduced buying US agricultural goods during the trade war, and now asking Chinese to buy more US agricultural goods to end the trade war? I mean, is this a joke? It's just back to what it was, what has been accomplished? Am I missing something???
You are missing a lot apparently. If you think the trade deal is about agriculture goods alone, you are missing 99 percent of the rest of the trade negotiations. The trade deal is simply trading that helps us.... and them. Right now, China is benefiting from the US taxpayers at over a half trillion dollars a year. Terrible how long this has been going on for and about time someone is finally negotiating for the American people for once.
the US gained absolutely zero from China than they werent doing before. China stopped by ag goods as a result of the tariffs and now they are being asked to buy more (which are actually up to their companies) and we reduce tariffs. ZERO has changes but the US ability to negotiate.
just to get this straight the trade deal is the exact same deal that was in effect before trump became president? great job mr president on doing absolutely nothing.
People will see through that.
He is a big joke
Mr Tarriff : you are loser
A tentative phase one of a subsection in the trade deal. If this falls through you're going to see Dow bleed multiple thousands like it was a meltdown
phase 1: reached an understanding in principle. phase 2: sign a principle agreement. phase 3: meet president xi to shake on it. phase 4: work together to get an agreement. if doesn't work, goto step 1, phase x = phase x+1, exit program. lmao.
the dictator of China doesn't have term limits. Xi will patiently wait for the next president and hope they are a push over, like many in the past
you're right about the term limits but Xi has gotten to this point with economic development. Without it, the human rights abuses lead to more widespread unrest than when things are going well. I see a parallel with Reagan v. Gorbachev. Our economy was doing well and the USSR was falling apart, so the arms race was our advantage. Today's tariffs are the 80's defense spending.
Deal or no deal? a deal in principal? playing a word game again?!
lol dude that technical analysis doesn't work you can draw 5 different lines and come up with 10 different conclusions on that chart
Don't forget what happened in last recessions after they hit ATH and with all these debts, a ticking bomb. FED started to do QE at that time as well, like they are doing right now. Overvalued companies, who buy these expensive stocks? I will do like Warren Buffet, stay in cash and wait til it drops.
Agreed! Or short it down. Pcall ratio is way too low because of buying up all these stocks.
exactly. s&p up 33% from a year ago. that was the time to be optimistic.. I'd argue we're in a recession now and something can snap in a hurry.
China will wait him out. They see how desperate Trump is now. Been going on for a year and can easily wait less then a year to make a better deal with the new candidate. The whole world is laughing at Trump, how he keeps lies about everything.
why market or dx going down it should be up now right?
More trade = lower dollar.
obviously, Bloomberg is holding some more calls.
T is is a blanket statement. What about dec 15 tariffs?
that is ridiculous arrangementlift sanctions worth billions in exchange for buying 4 kilos of oranges, 100 pounds of pork and 3 gallons of corn syrup ...Do away with Hard won instruments of control who and how access the market in exchange for promise of purchase quotas...
Trump caved. anything to make the market go up.
it's going to skyrocket in the morning
Ow they need to get it on paper and check on Xi’s travel schedule and maybe have Xi sign it at a Trump rally in Iowa. Oh....think that was the last couple times!
This kind of news makes me more uncertain about the direction of the market. Should I keep ignore the news and follow the technical analysis only?
work with the news
Exactly. Trumps the man
buy or sell gold?
Thought Trump announced the same thing about a month ago.
All these knee-jerk responses by the market. What a joke at least the VIX is being conservative And not having a precipitous drop because hopefully those people realize this is another boy who cried Wolf scenario.
Well, the most important part is missing yet
Yep, but Trump may tear the agreement even if it's signed, whenever he doesn't like it anymore
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