News today is that there is a good chance that China and we may have a trade agreement by Dec. 1. It is to be implemented in phases, the 1st phase to stop the introduction of more tariffs Dec. 1 and the beginning of removal of existing tariffs.
Obviously, I only heard a brief summary so the details are still vague. Let me also add that I have wanted to comment on recent China's actions concerning trade. If you remember, China did devalue its currency recently in response to our inceasing tariffs on more Chinese goods. I did see that as an act of desperation as that did make its goods cheaper not only to us but to the rest of the world and also made all countries' goods relatively higher to China. Some might think that this benefits China but it makes its goods cheaper to the rest of the world but also makes its revnues less. Given that the goods it exports, is labor intensive, it also means that workers also experience a loss of real income.
Of course, a deal is not done till the fat lady sngs but let's hope that we can attain a more equable balance of trade with China.