The U.S. and China Move Closer to the Deal, Reports Bloomberg

The U.S. and China Move Closer to the Deal, Reports Bloomberg.

As of 5:26 AM ET, the U.S. Dow Future rose over 120 points to 27,502.81 after a report from Bloomberg which stated that the U.S. and China are moving closer to the trade deal.

Bloomberg reported, citing people familiar with the talks, that the U.S. and China are moving closer to agreeing on the amount of tariffs that would be rolled back in a phase-one trade deal despite tensions over Hong Kong and Xinjiang.

U.S. negotiators expect a phase-one deal with China to be completed before American tariffs are set to rise on Dec. 15, the people said. Outstanding issues in the talks include how to guarantee China’s purchases of U.S. agricultural goods and exactly which tariffs to roll back, said the source.