US and China strike ‘phase one’ deal to de-escalate trade war

Financial Times/James Politi and Christian Sheperd/12-13-2019

graphic image of a red down arrow and up green arrow“The agreement, which was confirmed by officials in both Washington and Beijing on Friday, commits China to buying at least $40bn of US agricultural goods annually, tightens protection for US intellectual property and bans the forced transfer of technology from US companies.”

USAGOLD note:  A nice, tight summation from FT. . . .The market reaction thus far has been tepid at best and not what most of the stock market bulls anticipated.  The reaction from China’s National Development and Reform Commission was well-hedged:  “China will increase its purchase of quality American agricultural products that are competitive in the market.”  Plenty of wiggle-room there. . . .

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