The stocks in United States saw record highs on this Monday in the wake of an upbeat tone that had been tied to the US-China trade deal which had been struck last week even though there are questions which remain regarding the details of the phase one deal that had been expected for very long.
The ascent in the markets was due to an extended optimism carrying on from the previous week after a trade deal had been announced by the Chinese officials and President Donald Trump on Friday which included a rollback partially of a few tariffs and the scrapping of further duties on the imports from China which were supposed to be enforced this Sunday. China in return had promised that the increase in the agricultural purchases.
The trade representative of United States, Robert Lighthizer on this Sunday had said that the deal had been done totally and it goes above and beyond the issues of agriculture and goes on to address the issues of intellectual property, provisions for enforcement, the financial services and the issues related to currency. A lot of the contentious issues are still remaining and are going to be taken up and resolved through the phase two talks that have not been scheduled as of now. This deal is projected to get signed by both the parties in the month of January as per him.
The analysts feel that the most significant thing that the deal has ensured is that there is a move from an escalation which lasted a period of one year to de-escalation now. However, the analysts do have a word of caution as the details have not come out regarding this deal.
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