Trump Sets Date for Signing Trade Pact with China

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After months of what felt like zero progress, the updates on the United States trade battle with China and coming hard and fast now.

On December 31^st, Donald Trump announced via Twitter that he had scheduled a date on which he would sign phase one of the trade deal with China – and it’s just days away. He says a January 15^th ceremony will take place at the White House where he’ll officially approve what he’s calling a “very large and comprehensive” trade pact. The two sides have yet to release a document detailing the treaty, though it was previously announced that China would boost imports of U.S. goods by $200 billion over two years.

But it appears some economists are leery of what’s expected to be absent in phase one, and a recent AP article suggests many feel the “thorniest issues” between the two parties are being saved for future talks. The article adds that “few economists expect any resolution of ‘Phase Two’ before the presidential election in 2020."

Regardless, any official progress is expected to reduce tensions between the two parties and perhaps boost the economy and stock market. Earlier in December, the U.S.-backed off on tariffs that were scheduled to take effect on the 15^th, with China reportedly agreeing to purchase more U.S. agricultural products and implement intellectual property protections.