<h2>No 'Phase 2' China Trade Deal Could Be Bad News For Stocks </h2>
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<p>President Trump spent the last year overhyping the prospects of a trade deal with China to boost the stock market. It seems now after China abandoned US farmers for Latin American ones - Trump has partially come clean about the flimsy deal and said Friday, a 'Phase 2' trade deal is 'unlikely.'
Readers may recall, President Trump said in 2018: “trade wars are good, and easy to win.” Yeah, okay… As phase one of the deal was signed in January, we outlined how there was no way in hell that China’s purchases (in terms of dollar amount) under the trade agreement would be met this year.
For more color on China, not upholding trade commitments under the first phase – Peterson Institute for International Economics (PIIE) trade deal tracker (latest data from April), shows China’s purchases under the agreement have been significantly below agreed-upon levels. Read more…………..
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But some of the businesses that thought they could reopen are going to have to wait. CBS2’s Natalie Duddridge explains.
