미국 언론 "트럼프, 미중 1단계 무역 협의 서명" Is the trade war between the world's two superpowers finally coming to an end?
Reports are coming out that the U.S. and China have signed a phase one deal... and stocks on Wall Street hit record levels on the news.
Our Kan Hyeong-woo starts us off.
Rumbling on for nearly a year-and-half,... the U.S.-China trade war that has dampened the global economy may be coming to an end.
Washington has reached a phase-one trade deal "in principle" with Beijing.
According to Bloomberg, citing sources familiar with the situation,...U.S. President Donald Trump has signed off on the deal and an official announcement from the White House could come soon.
The report said the terms of the deal have been agreed but the legal text has not yet been finalized.
Earlier in the day, President Trump said in a tweet that he was getting "very close to a big deal" with China...adding Beijing wants the deal and so does Washington.
But Trump has rejected deals with China before so nothing is guaranteed until the official announcement is made.
According to Bloomberg,...the tentative deal would effectively cancel a new set of American tariffs on 160 billion dollars of consumer goods from China...which were scheduled to be imposed on December 15th.
Reuters also reports the U.S. has agreed to roll back some of its existing tariffs on Chinese imports.
It added Beijing has agreed to buy 50 billion dollars worth of American agricultural goods in 2020 as part of the deal.
U.S. stocks hit record highs on Thursday following reports of the trade deal.
The S&P 500 and the Nasdaq jumped nearly one percent, closing at all-time highs...ending the day at 3,168 and 8,717 respectively.
The Dow Jones Industrial Average climbed more than 300 points at its best, before losing steam, but still finishing higher at 28,132.
Kan Hyeong-woo, Arirang News.
#Trump #China #trade
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