US-China trade wars: Reports suggest countries set to cut Phase One deal soon

China, US to cut phase one deal soon – Global Times

Global Times,  a Chinese outlet, carries a story by a former Chinese Vice Minister of Commerce and Executive Deputy Director of the China Center for International Economic Exchanges, Wei Jianguo, as he says that he is confident and optimistic that China and the US can reach a phase one trade deal.

Key Quotes:

“If the bilateral trade talks make good headway and make progress quickly, the two sides can expect to reach a trade deal before the coming Chinese New Year at the end of January 2020. 

The content of the trade deal will focus on a few major issues including intellectual property protection, financial opening, and agricultural product purchasing. But the most essential problem is to lift the tariffs. Read more…

The US-China trade situation has the power to upset all markets

Payrolls are due out at the end of this week – always an indicator with more muscle than it deserves – considering the count is just plain wrong. "Economists surveyed by The Wall Street Journal are expecting a solid report for November, with nonfarm payrolls increasing by a brisk 187,000, the unemployment rate holding steady at 3.6% and average hourly earnings up 3% from November 2018. Such an outcome would reassure investors that the U.S. economy has plenty of momentum to weather the global slowdown following three rate cuts by the Federal Reserve this year." Read more...