US-China Phase One Deal ‘Absolutely Completed’: White House Chief Economic Adviser

According to White House chief economic adviser, Larry Kudlow, the US-China phase one trade deal is absolutely completed, and will enable

Arslan Butt•Tuesday, December 17, 2019•1 min read

A trade deal would be positive for Trump on 2020 elections

According to White House chief economic adviser, Larry Kudlow, the US-China phase one trade deal is absolutely completed, and will enable the US to increase its exports to China by twice the existing quantity. Even though Chinese officials seem more reluctant to confirm this, while addressing reporters at the White House on Monday, Kudlow remarked, “Make no mistake about it: the deal is done, the deal is completed.”

Kudlow also expressed hope that the two nations could get together early in January for signing this partial trade deal. For now, work is on to translate the draft agreement, but the final aspects have been finalized so far.

To add to the optimism in the markets, US President Donald Trump has already confirmed that work on the phase two of the trade deal will begin as soon as this deal is inked and implemented. The phase one deal serves to increase imports of US farm goods by China in exchange for reduced tariffs on its goods.

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Arslan Butt

Index & Commodity Analyst

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.