- U.S. treasury secretary Mnuchin: Signing of the U.S.-China trade pact will be at the beginning of January, - CNBC
Market news
19 December 2019
U.S. treasury secretary Mnuchin: Signing of the U.S.-China trade pact will be at the beginning of January, - CNBC
- The trade pact is on paper and translated and not open to renegotiation
- China will double purchases of agricultural goods from the U.S. under phase 1 trade pact
- Pact is going through technical legal scrub; will release document and sign at the beginning of January
- U.S. priority on trade with China right now is to implement phase 1 deal but prepared to work hard on phase 2
- U.S. farmers can meet China demand
- USMCA trade pact should add 0.5% to U.S. GDP
- For the first time we have binding enforcement; if disputes are not resolved the president has the authorization to put on tariffs
- A lot of currency provisions from USMCA trade pact have been put into China phase I trade deal
- Negative interest rates in Europe have led banks to hold dollars
- Strength of U.S. dollar is sign of strength of economy
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