Mnuchin says U.S., China will sign phase one trade pact early next month…record-setting rally …

Mnuchin says U.S., China will sign phase one trade pact early next month…record-setting rally …

December 23, 2019 0 By Kailee Schamberger


we’re seeing some progress in regards to
the so called phase one trade deal between the world’s two largest
economies the US has confirmed in Washington and
Beijing are going to sign the deal early next month and on the news US shares had
record highs Amin son has more US Treasury Secretary Stephen moon ocean
said the US and China will sign there face one trade deal in early January in
an interview with CNBC on Thursday moon ocean said he was confident the signing
will take place but it is still going through comprehensive technical and
legal steps he also told the reporters the pact is already in the documentation
and translation process and is not subject to renegotiation you know we’re
going through a technical issue now we’re again the agreement is translated
I don’t expect there’s any changes we’ll sign the agreement in the beginning of
January our focus on on the moment is implementing phase one this is going to
be a tremendous opportunity for US workers and for US companies the deal
will see China purchasing American farm product and the u.s. lifting tariffs on
China China and the United States have reached
an agreement on the text of the phase 1 trade deal on the basis of equality and
natural respect the United States will perform its commitment partly canceling
tariffs on Chinese goods and phasing out some tariffs slated to be added on
Chinese products despite Congress voting to impeach President Trump updates on
the trade deal came as a strong sign for investors yes it’s been a sustained move
higher but it may have built in a lot of sort of good news and a lot of
expectations about the trade agreement moving forward Wall Street’s major
indexes resumed their rally with fresh records on Thursday the benchmark S&P
500 hit a sixth straight all-time high its longest streak since January 2018
and the Nasdaq ended with gains for the seventh session in a row the Dow Jones
Industrial Average enjoyed the other two in not seeing record closing highs
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