Consumer confidence readings hint China was harder hit than US leading up to 'phase one' trade deal

With the U.S. and China coming together to sign what’s being billed as a “phase one” trade deal, scrutiny is turning to which side secured the better deal, and how much negotiating power each of the world’s two largest economies will have at its disposal ahead of “phase two.” As it stands, the Trump administration intends to keep punitive tariffs in place on about two-thirds of imports from China totaling roughly $360 billion in Chinese goods to ensure China honors its side of the agreement, while China didn’t commit to any tariff reductions past...