China says US agrees to remove some tariffs;…

Gao Feng, spokesman for the PRC Ministry of Commerce, seemed to confirm that the US has agreed to proportionally remove existing tariffs as part of a phase one trade deal, as we discussed in the newsletter earlier this week. The markets got very excited about this statement, but so far I have not see any official confirmation from the US side. Perhaps it will come in a presidential tweet at some point.

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