US — CHINA TRADE DEAL HEADLINES

The US and China agreed on text of a Phase One trade agreement today. Details remain vague, though, creating a bit of a cautious tone in the markets. As the specifics of the deal will take a bit of time to come to light, this post contains various wire service headlines released through the morning.

CHINA, U.S. AGREED ON CONTEXT OF FIRST PHASE TRADE DEAL

U.S. WILL FOLLOW UP ON ITS PROMISE TO CANCEL TARIFFS ON A PHASED BASIS

CHINA, U.S. TO IMPLEMENT FOLLOW-UP PROCEDURES AS SOON AS POSSIBLE

CHINA TO BOOST U.S. IMPORTS OF ENERGY, AGRICULTURE, PHARMACEUTICAL PRODUCTS, FINANCIAL SERVICES

U.S. HAS PROMISED TO CANCEL ADDITIONAL TARIFFS ON CHINESE PRODUCTS

CHINA HAS DECIDED TO CANCEL TARIFFS SCHEDULED TO TAKE EFFECT ON SUNDAY

IMPORTS OF U.S. FARM PRODUCTS WILL NOT CREATE SHOCKS TO DOMESTIC INDUSTRY — CHINA VICE AGRICULTURE MINISTER

CHINA TO IMPORT MORE U.S. WHEAT, CORN AFTER THE DEAL — CHINA VICE AGRICULTURE MINISTER

TRUMP SAYS CHINA HAS ‘AGREED TO MANY STRUCTURAL CHANGES AND MASSIVE PURCHASES OF AGRICULTURAL PRODUCT, ENERGY, AND MANUFACTURED GOODS’

TRUMP SAYS PENALTY TARIFF SET FOR DEC 15 WILL NOT BE CHARGED

TRUMP SAYS U.S. WILL BEGIN NEGOTIATING PHASE 2 TRADE DEAL WITH CHINA IMMEDIATELY

TRUMP SAYS 25% TARIFFS WILL REMAIN IN PLACE, WITH 7-1/2% PUT ON MUCH OF THE REMAINDER

CHINA AGREED TO SUBSTANTIAL ADDITIONAL PURCHASES OF U.S. GOODS AND SERVICES IN COMING YEARS-USTR

U.S. AGREED TO MODIFY ITS TARIFFS IN A «SIGNIFICANT WAY»-USTR

U.S. WILL MAINTAIN 25% TARIFFS ON ABOUT $250 BLN OF CHINESE IMPORTS, ALONG WITH 7.5% TARIFFS ON ABOUT $120 BLN OF OTHER CHINESE IMPORTS

USTR SAYS US-CHINA TRADE DEAL WILL LIKELY BE SIGNED BY TRADE PRINCIPALS IN WASHINGTON IN FIRST WEEK OF JANUARY, DOES NOT EXPECT PRESIDENTIAL SIGNING

USTR SAYS CHINA AGREED TO BUY $16 BLN MORE IN U.S. AGRICULTURAL PRODUCTS IN FIRST YEAR, UP FROM 2017 BASELINE OF $24 BLN

USTR SAYS CHINA AGREED TO MAKE BEST EFFORTS TO INCREASE U.S. AG PURCHASES TO $50 BLN

USTR SAYS AGREEMENT WILL INCREASE U.S. TRADE TO CHINA BY $200 BLN OVER 2-YEAR TIME PERIOD

USTR SAYS LOWER TARIFFS WILL TAKE EFFECT 30 DAYS AFTER SIGNING OF AGREEMENT

USTR SAYS U.S.-CHINA PHASE ONE TRADE AGREEMENT WILL CONTINUE INDEFINITELY

USTR SAYS CHINA MADE FIRM COMMITMENT TO BUY $32 BLN OF ADDITIONAL U.S. FARM PRODUCTS OVER TWO YEARS

Lighthizer Confirms China Pledged $40BN In Ag Buys Next Year