The possible framework of a trade deal with China has been making its way into media reports and some investors are treating the potential agreement warily.
The possible framework of a trade deal with China has been making its way into media reports, and based on what they are seeing, some investors are treating the potential agreement warily.
Sources tell CNBC that a possible deal is close and that negotiations are in the"final stages" as the two sides plan a summit for the end of March at President Donald Trump's Florida resort, Mar-a-Lago. If a deal is struck, the U.S. could roll back tariffs on at least $200 billion in Chinese goods while China could remove or cut industry-specific tariffs like those on autos.
According to news reports, Beijing would also increase purchases of U.S. goods, a move that responds to Trump's concern that it's the trade deficit between the U.S. and China that needs to be fixed. The purchases would include $18 billion in natural-gas from Cheniere Energy. If tariffs are retained, some strategists say that would be a negative for the market since uncertainty would remain, and so would the impact on businesses.
"They've taken a lot of risks with the economy to make incremental gains, but this is going in the right direction. Overall it's a pretty good outcome," Bianco said.
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