The U.S. and China are expected to sign the phase one trade deal at 11:30 a.m. ET.
On paper, the deal promises increased U.S. agricultural exports and reforms to China’s policies on intellectual property, technology transfer, and financial services, according to a U.S. Trade Representative document.
China will end its practice of pressuring foreign companies to hand over technological innovations in exchange for Chinese market access, approvals and other advantages.
China has also agreed to spend $200 billion over the next two years on U.S. food, agriculture, and seafood products and other services.
Jeff Marks, senior portfolio analyst with Action alerts PLUS, weighed in on what he think about Phase Two.
"So I think what you need to remember here is that we're not going to see an immediate roll off of a majority of the tariffs that are in place here. And remember, that's really important because that's going to be the defense mechanism to make sure that China's making good on all of the imports that they're expected to do to the U.S. Agriculture being one of the bigger ones. And we think the best play off of the agriculture step up in imports is Tyson Foods (TSN) - Get Tyson Foods Inc. Report. We own that for Action Alerts PLUS," said Marks.
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