Bloomberg TV and other major news outlets have been reporting the U.S. and China have reached a trade deal in principle, awaiting President Donald Trump’s signoff. Earlier today, Trump tweeted, “Getting VERY close to a BIG DEAL with China. They want it, and so do we!”
The news helped futures and stock markets to a high-range close, but many who have been following the situation for roughly a year and half found themselves asking, “So what’s different this time?”
What MIGHT be different this time is the U.S. has reportedly offered to cut existing tariffs in half and nix threatened new ones slated for Dec. 15. China’s statement on the latest development will likely be the one to watch for a true read on whether a deal is truly in the works.