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Better Late Than Never
Equities markets saw a late surge last week as news of a US-China trade deal broke.
Markets had been trading with caution over the week. Many players feared that Trump would press ahead with his next round of tariffs. These were due to take effect as of Sunday, December 15th. However, late on Thursday, reports of a deal began circling, sending equities higher.
The deal in question is the phase-one trade deal agreed upon by the two sides back in October. The deal was initially due to be signed at the APEC meeting in Chile in November.
However, following the cancellation of the meeting due to civil unrest in Chile, the markets were left wondering whether a deal would be signed ahead of the December 15th tariff date.
So, What’s in the Deal?
The first details of the deal broke via a tweet from Trump, who wrote:
The deal saw Trump canceling the December 15th tariffs as well as reducing 15% tariffs on $120 billion of Chinese goods (which went live in September).
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