A signing of the phase one trade deal may be just around the corner.
On Tuesday, Dec. 31, President Trump tweeted that China and the United States will be signing a "very large and comprehensive" Phase One of the trade deal on Jan. 15.
Details of the pact remain scant--beyond pledges to roll back tariffs on China-made goods and increase the purchase of American-made agricultural products--investors have cheered the fact that the two sides are at least inching towards a progression conclusion of the 18-month dispute.
But now that we have a date for a Phase One signing, should investors turn their attention to Phase Two?
Jeff Marks, senior portfolio analyst with Jim Cramer's Action Alerts PLUS portfolio, explained why he's not so sure it's time to get excited about Phase Two just yet.
"I think it's too early to get excited about phase two just yet. I mean now just going back to phase one, I do think it was a real deal. You know, we are seeing China, they are stepping up their imports of agriculture, soybeans. We've seen them remove some of the tariffs on U.S. products and yeah, I mean the thing's got to get signed on on Jan 15th but I think all signs are pointing that way. But phase two, we don't really know what to expect yet and what are the full areas that are going to get covered. So I think being optimistic on a phase two deal is it would be a little bit premature right now," explained Marks.
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