China pledges to buy $200 billion of American goods under Phase 1 trade deal by skleb1234
, purchases of American exports will continue beyond the two-year period: “China’s increased imports of U.S. goods and services are expected to continue on this same trajectory for several years after 2021 and should contribute significantly to the rebalancing of the U.S.-China trade relationship.”
Stocks were mixed following the news on Tuesday: The S&P 500 and Nasdaq Composite indexes both traded down by 0.15% and 0.24%, respectively, while the Dow Jones Industrial Average gained 0.11%.“The market is skeptical on the benefits of the deal, but relieved at the reduced chance of an escalating trade war,” says Charlie Bobrinskoy, head of Ariel Investments.
“The fact the U.S.-China trade war isn’t escalating further is certainly beneficial, but stocks are largely already reflecting ‘Phase One’ in full,” wrote Adam Crisafulli, founder of Vital Knowledge, in a note on Tuesday. He predicts that the Phase One signing ceremony “will contain a lot of rhetoric and theater,” but investors"shouldn’t conflate that with substantive change—Washington is keeping the majority of its tariffs in place, and the U.S.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US-China trade agreement: Trump administration drops designation of China as currency manipulatorThe preliminary pact that both sides are set to sign includes a section that's intended to prevent China from manipulating its currency to gain trade advantages.
Read more »
China December trade beats forecasts: exports up 7.6%, imports up 16.3%China's exports in December rose 7.6% from a year earlier, customs data sho...
Read more »
Yen slips, yuan ascends after Washington drops China FX manipulator labelThe yen plumbed an eight-month low while the yuan climbed to its highest level s...
Read more »
US drops designation of China as currency manipulatorThe preliminary pact that the two sides are set to sign this week includes a section that's intended to prevent China from manipulating its currency to gain trade advantages.
Read more »
China rare earth exports rebound in December, but annual shipments lowest since 2015China's rare earth exports bounced back in December from a four-and-a-half-...
Read more »
China to make national carbon trading breakthrough by year-end: officialChina to make national carbon trading 'breakthrough' by year-end: official
Read more »