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President Trump Signs Off On US-China Trade Deal, Delays December Tariffs

Courtesy of ZeroHedge View original post here.

Update (1635ET): President Trump has reportedly signed off on the "Phase One" deal that his trade advisors have negotiated.

This means that the new tariffs, which were due at 12:01a Washington time on Sunday, won't be applied to the $160 billion in consumer goods from China – including smartphones and toys.

WaPo reports that, “The deal is essentially done. The mechanics of how you execute it and how you get it signed still have to be worked out."

*  *  *

Update (1450ET): It appears "sell the news" is more the theme…

*  *  *

The algos are loving it… again.

Bloomberg reports that U.S. negotiators have reached the terms of a phase-one trade deal with China that now awaits President Donald Trump’s approval, according to people briefed on the plans.

and the result…

S&P ripped right off of its VWAP…

And Yuan spiked to a new high for the day…

As did 30Y Yields…

Officials are meeting in The White House to get Trump's sign-off, according to people familiar.

Just one little reminder of what happened two months ago:

Oct 11: Trump says the US has come to a substantial phase one deal with China

Trade accordingly!


 


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