A Trade Deal is Very Close. Again.
All three major U.S. stock indexes rallied to new highs today as the Chinese media reported China is prepared to increase penalties on intellectual property theft and better enforce the rights of U.S. companies doing business in China. Details were sparse, but it would be a major step forward in the negotiating process if U.S. companies were not forced to share their IP secrets. There are also reports from both sides that a phase one trade deal is “very close.”