Weekly Economic and Financial Commentary – 06 January, 2020
President Trump on Wednesday announced that the Phase 1 trade deal with China will be signed on January 15, 2020, after the US and China both agreed to terms of the deal on December 13, 2019. The Phase 1 deal reduced tariffs on imports from China by $120 billion and nullified the additional 15% tariff on $156 billion worth of imports from China that was expected to take effect in December. The finalisation of the deal is expected to support overall global trade and global output growth.
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