U.S. top trade negotiator praises deal, China remains cautious
Monday, 16 December 2019 U.S. President Donald Trump's top trade negotiator praised a "phase one" U.S.-China trade deal which is expected to nearly double U.S. exports to China over the next two years, while China remained cautious ahead of the signing of the agreement.
On Tuesday, global stocks jumped after Donald Trump authorized President-elect Joe Biden's presidential transition process to begin. On Monday, Trump took a significant step toward acknowledging the election result. However, Business Insider reports, he is still convinced he and his allies can continue to contest the outcome. Another key factor driving the boost is Biden's planned nomination for former Federal Reserve chair Janet Yellen as Treasury Secretary.