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 smaller section on Chinese consumer goods, according to a USTR facts sheet. Furthermore, Trump has promised to waive the tariffs set to be placed Saturday on 160 billion dollars of additional Chinese imports. In return, C
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