Let's talk about the phase one trade deal.
The deal between the U.S. and China was finally signed Wednesday, Jan. 15.
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.
Kenny Polcari, senior market strategist at SlateStone Wealth, weighed in on the trade deal and what it means for the markets.
"Hey, listen, at this point, it doesn't really mean anything in terms of the market because the market's got it all priced in. And we've been talking about this for months now. And now the trade one deal, you know, they came to that conclusion. They did the translation, everything's done. It's all signed, sealed, delivered. It's not going to fail. Now it's just a matter of a signature. And so in that sense, the market's got it all priced in," Polcari said.
Curious about why phase two isn't going to be top of mind for investors this year? Watch the full video above for more.
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