Sources: Terms of US-China phase one trade deal will be balanced and legally binding on both sides – Global Times
|Citing sources close to the US-China trade talks and analysts on Sunday, China’s Global Times reports some optimistic comments on the phase one trade deal signing scheduled later this week.
Key Quotes:
“Phase one ... will cover a wide range of areas from intellectual property rights (IPR) to enforcement mechanism, and the terms will be balanced and legally binding on both sides.
As Chinese and US officials are poised to sign the phase one trade deal later this week, the market has been largely focused on speculation about the amount of China's purchases of US products, particularly agricultural goods. Such a single-minded focus on specific amounts is misguided, given the broader scope of the deal.”
The market mood remains lifted starting out a fresh week, as investors remain hopeful of the trade deal while awaiting key US and China macro news in the week ahead.
Also, the latest Wall Street Journal (WSJ) report stating that the US and China are restarting their Comprehensive Economic Dialogue semi-annual talks lend support to the persisting trade optimism.
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