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US-China phase one deal brings some market relief, but experts warn uncertainty remains

Added 01-16-20 06:02:02am EST - “U.S. and China signed the agreement Wednesday after slapping tariffs on each other's goods for almost two years.” - Cnbc.com

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Posted By TheNewsCommenter: From Cnbc.com: “US-China phase one deal brings some market relief, but experts warn uncertainty remains”. Below is an excerpt from the article.

A partial trade deal signed on Wednesday between the U.S. and China gives some relief to the market, but uncertainty still remains, experts said.

"There's a great sense of welcome that the deal was signed and a little bit of relief, naturally, and some measured optimism about how we can move forward," said Gregory Gilligan, chairman of the American Chamber of Commerce in China.

The world two largest economies signed the first-phase trade agreement Wednesday afternoon at the White House after slapping tariffs on billions of dollars worth of each other's goods for almost two years.

As part of the deal, China also agreed to purchase an additional $200 billion in U.S. goods over the next two years.

Although tariffs are still being levied on $370 billion worth of imported Chinese goods, how the "phase one" deal works will help toward the making of a "phase two" deal, Gilligan told CNBC.

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