Bloomberg article out on U.S.-China Phase One....>

US: Bloomberg article out on U.S.-China Phase One deal tying tariff relief to

how much of the (failed) May deal between Washington and Beijing is now agreed.

Bloomberg sources suggest this could mean 35% to 60% in rollbacks, depending on

if the phase 1 deal covers 35-60% of the May deal.

- A Phase One deal would likely include the elimination of tariffs that went

into effect in September and December, according to Bloomberg sources.

- The market seems confused as to the degree this is risk-on, but equity markets

popped briefly. However, fading now on headlines of Trump stating 'if U.S.

doesn't make a deal with China, I will just raise the tariffs even higher'

(Rtrs).