Phase 1 of a multi-phase trade agreement between the United States and China has been reached and is expected to be signed in January. Although the Phase 1 deal fails to remove some of the largest tariffs imposed on the two countries, it marks a significant first step in resolving an economic standoff that has detrimentally impacted global markets. From what we know so far, the Phase 1 deal includes the Trump administration reducing tariffs from 15 percent to 5 percent on a s