(Washington) – The United States was poised to announce a historic trade deal with China, easing a commercial dispute that has roiled markets for almost two years.
Reports that Washington and Beijing had struck a bargain at last — subject to approval by US President Donald Trump — sent US stocks sailing to their first record closes of December.
“Getting VERY close to a BIG DEAL with China. They want it, and so do we!” Trump tweeted in a markedly optimistic tone, although it was unclear if he would officially confirm the agreement on Thursday.
The US ultimately wants China to open its vast economy to more goods and to conduct sweeping reforms of what Washington has long called systemic abuse against foreign investors.