Investors signal they hate Trump’s “Phase 1” China trade deal

Wall Street was bursting at the seams with excitement about a trade deal between the U.S. and China — until details of the deal were revealed.

The big picture: China agreed to more than double its annual purchases of U.S. agriculture, up to $50 billion and made yet-to-be-determined concessions on intellectual property rights while the U.S. agreed not to implement its planned Oct. 15 tariffs of 30% on Chinese imports.