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Markets Soar as Trump Signs First Phase of China Trade Deal

The three major stock indexes are all setting intra-day high records on the same day President Trump is signing a phase one trade deal with China. The Dow Jones Industrial Average, S&P 500 and NASDAQ were all up today.

That comes a day after mixed results after news broke that not all of the tariffs President Trump imposed on China will be lifted. The trade deal is for China to buy agricultural products and other goods in exchange for Trump lifting some of the sanctions. Also, National Economic Council Director Larry Kudlow says the U.S. is moving immediately into phase two of the trade deal with China. He said the second phase will focus on evening the playing field by curbing unfair practices regarding forced transfers of technology. Kudlow added a portion of that was taken care of in the first phase of the deal, but there’s still issues on whether China will give licenses to American companies without trying to steal the technology or forcing technology transfers and licenses. Kudlow did thank President Trump, Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin for their work on the trade deal.