Every market is a stage and it exposes every player

Apologies to William Shakespeare for adulterating his famous line from, As you like it,when the mournful Jacques utters these famous words, "all the world's a stage and all the men and women merely players; They have their exits and their entrances, And one man in his time plays many parts, His acts being seven ages'. I was thinking this week about the different stages of FX growth. I remembered back to when I first entered the world of FX and I wanted to give a brief outline of the different stages of a trader drawing on my own experience. Very few people talk about their development as a trader, and yet everyone has to learn.Starting from the 'birth' of a trader through to 'adulthood' and beyond this two part series will elaborate the five stages of growth I have identified for an aspiring FX trader. Let's start with the birth stage. It's rarely pretty...

Birth : The horrible world of the rookie

Every market is a stage and it exposes every player

Being an FX rookie anywhere is hard. Being a retail FX rookie is nearly impossible. Certainly breaking through the stage is. Approximately 90% of retail FX traders give up. You enter the world of FX keen and enthused. You may have seen a video, demoed a MT4 platform or known a friend who 'made a lot trading' and you decide to take the plunge. You can do this, you say. For me, back around 2002-03, I was working for a charity for the time and my wages were very low. In fact at the charity we worked at we were grateful that we received any wages. Prior to my joining, a salary was not a standard thing each month. Hard to believe, perhaps, but true! Well, one day our charity had a conferences and one of the conference speakers was a pensions adviser. I had a wife and thought 'ok, I had better sort out a pension'. So, off I went to the advisor's seminar.


However there was a problem! The advisor was recommending that I saved what to me was a ridiculously high amount of money. So, being a creative thinker, I thought there must be a way of doing this more efficiently. Then it occurred to me. So, I said to the advisor, 'If I save my money in GBP's but exchange it into USD's when the exchange rate is in my favour and then do the opposite when the exchange rate changes again, I can make my pot grow faster'. It was what the pensions adviser said to me next that led me to FX. He just said, 'then you will be doing what I am doing'.


You quickly realise when you are learning FX that you have a lot to learn. FX robots, Technicals or Fundamentals, google is awash with trading gurus ! There are so many ways to go wrong. That is not to mention the internet forums. They are full of people who are frankly quite odd. You would have some so called 'expert' hammering a guy for being an 'idiot' and a 'trading loser'. Then huge ego-driven arguments. Not an easy learning environment. So, if you are there right now at this place, what should you do?


What to do as a rookie

Focus on learning the basics. Check out a good site like babypips.com. Work through it. Trading takes time. The jargon, the concepts. You don't need to know it all, of course, but put time in to learn. Don't get a FX mentor at this stage, spend time learning the basics on your own.


Realise that you need to use fundamentals to decide your instrument to trade and then technicals to time your entry and exits. Work on understanding what that last sentence means.


Toddler: Finding your feet


How to trade FX

You are now trading and getting mixed results. You have worked out that some news events have a big impact on price and you are ready for it. You know about key support and resistance levels and you can see that some places are technically great for entries. You may have backtested a system or a dozen and you are confident and ready.You are not a beginner anymore, but you have gaps in your knowledge. You may not understand the role of the bond and equity market in FX and options and central bank language is still a but of a mystery. You know what a 'spike in cable' means, but you don't understand what is moving the currency pairs.


When I was learning to trade at this stage I discovered the beauty of a 'sell on stop' in combination with a market maker broker. It was a beautiful time. The market maker brokers I was with got caught with their trousers down when I'd sell on stop out of a big market event. Because the market maker has an artificial market the fills I got tended to be quite good (this will depend on different brokers obviously). They honouedr the trade on the hope that next time I would mess it up, over leverage and hand all my money over to them. However, what bugged me during this time was yes, I was making money, but I didn't know why or which direction the market was going in. I had constant insecurity in my mind. It was horrible as I only understood the technicals of trading. This stage ended for me when I got an e-mail closing my account I only worked out many months later why they had shut my account because I was exposing their market making model.This made me assess where I was at and decide that I wanted to not just trade the markets, but have an understanding of them. If you are here, wanting to understand the markets and why it moves then here is what you need to do:


What to do

Get a mentor. Pay for training from a professional. You will save years of frustration. I mean imagine trying to learn any skill without guidance.Yes, you can do it, but it doesn't mean you should do it. Only the most persistent and able will persevere through the incredible frustration in self teaching a profession


What to avoid

What to do

Do not use high leverage at this stage. There is a phase that gets bandied around that '90% of new traders lose 90% of their capital in the first 90 days'. I personally recommend that during this stage you do two things:

  1. Don't use leverage. If you have invested 1000 units of currency only trade 0.01 micro lot. This is trading without leverage. If you leverage up, lose your account then you will create mental barriers to your success further down the line. Trust me and follow this advice.
  2. If and when you lose 10% of your account, stop trading, Something is wrong and you need to re-evaluate. Demo trade until profitable and then get back on the bike.


By following this advice you will almost certainly learn to trade before blowing out your account. You will also avoid losing a painful amount of money that you most probably need. Oh, and by the way, learn to trade with as little money as possible. You may very well lose it at first, so whatever you do don't invest a lot. Finally, if you do lose a lot. Don't worry. You can rebuild and re-start. Just don't do it twice.

The next article will be on the 'Adolescent and Adult 'stage of trading. I hope that this has helped some people out there and please share it around to anyone you think might benefit from it. Remember trading takes a long time to learn, despite what you may have been told. However, most of the ability to succeed just comes from not quitting, so it is a skill that you can master.

ForexLive

View More

Fri 13 Dec 2019 21:52:54 GMT

ForexLive Americas FX news wrap: Deal announced but details disappoint

Forex news for North American trade on December 13, 2019: Markets: - Gold up $6 to $1475 - US 10-year yields down 7 bps to 1.82% - S&P 500 float at 3168 Confusion was the story early in North American trade as yesterday's reports of a US-China deal were not confirmed by Beijing. The eerie silence ramped up on reports highlighting things that wouldn't be included and then Trump threw fuel on the fire by saying the 50% rollback on $360B in tariffs was wrong.

View More

ForexLive Americas FX news wrap: Deal announced but details disappoint


//az705044.vo.msecnd.net/20191213/2019-12-13_16-52-34.png Adam Button
Fri 13 Dec 2019 21:52:54 GMT
Author: Adam Button
Category: News
0


Forex news for North American trade on December 13, 2019: Markets: - Gold up $6 to $1475 - US 10-year yields down 7 bps to 1.82% - S&P 500 float at 3168 Confusion was the story early in North American trade as yesterday's reports of a US-China deal were not confirmed by Beijing. The eerie silence ramped up on reports highlighting things that wouldn't be included and then Trump threw fuel on the fire by saying the 50% rollback on $360B in tariffs was wrong.

Asset 24 View More
Trade ideas thread - European session 13 December 2019
Asset 41
Fri 13 Dec 2019 21:21:53 GMT

US equities finish flat on Friday

Closing changes for the main US stock markets: On the week: While stock markets were enthusiastic, the 7.5 bps fall in US 10-year notes to 1.82% virtually wiped out yesterday's rise. That's a bit of a warning sign for risk trades.

View More

US equities finish flat on Friday


//az705044.vo.msecnd.net/20191213/2019-12-13_16-21-25.png Adam Button
Fri 13 Dec 2019 21:21:53 GMT
Author: Adam Button
Category: News
0
Closing changes for the main US stock markets: On the week: While stock markets were enthusiastic, the 7.5 bps fall in US 10-year notes to 1.82% virtually wiped out yesterday's rise. That's a bit of a warning sign for risk trades.

Asset 24 View More
Fri 13 Dec 2019 20:45:17 GMT

CFTC Commitments of Traders report: GBP shorts trimmed but not as much as you might think

Forex futures positioning data for the week ended Tuesday, December 10: The big shifts recently have been paring GBP and NZD shorts. Those trends both continued this week but at a slower pace than you might have expected given the rallies in both. Next week's data will capture the UK election and that should be instructive.

View More

CFTC Commitments of Traders report: GBP shorts trimmed but not as much as you might think


//az705044.vo.msecnd.net/20191213/2019-12-13_15-44-42.png Adam Button
Fri 13 Dec 2019 20:45:17 GMT
Author: Adam Button
Category: Forex Orders
0
Forex futures positioning data for the week ended Tuesday, December 10: The big shifts recently have been paring GBP and NZD shorts. Those trends both continued this week but at a slower pace than you might have expected given the rallies in both. Next week's data will capture the UK election and that should be instructive.

Asset 24 View More
Fri 13 Dec 2019 20:20:45 GMT

The rally to $60 in WTI crude has happened under the radar

Oil climbed another 1.4% today There has been a persistent bid in oil since the OPEC decision that's flown under the radar because of so much happening elsewhere.

View More

The rally to $60 in WTI crude has happened under the radar


//az705044.vo.msecnd.net/20191213/wti-daily-chart.png Adam Button
Fri 13 Dec 2019 20:20:45 GMT
Author: Adam Button
Category: Technical Analysis
0
Oil climbed another 1.4% today There has been a persistent bid in oil since the OPEC decision that's flown under the radar because of so much happening elsewhere.

Asset 24 View More
Fri 13 Dec 2019 20:09:20 GMT

Fed's Clarida: Sees no signs of the US consumer pulling back

Comments from the Fed Vice Chair This sure doesn't sound like a guy who just voted to cut rates three times. ForexLive

View More

Fed's Clarida: Sees no signs of the US consumer pulling back


Adam Button
Fri 13 Dec 2019 20:09:20 GMT
Author: Adam Button
Category: Central Banks
0
Comments from the Fed Vice Chair This sure doesn't sound like a guy who just voted to cut rates three times. ForexLive

Asset 24 View More
Fri 13 Dec 2019 19:19:02 GMT

1

Kudlow: $40-$50 in Chinese agricultural purchases are over two years

It was framed as one year earlier To put this into context. In 2017, China bought $24 billion in US agriculture. They're just going back to that. This deal is looking sadder by the moment. Earlier today Lighthizer said purchases would increase by $32 billion to $40B and rising to $50 billion per year.

View More

Kudlow: $40-$50 in Chinese agricultural purchases are over two years


//az705044.vo.msecnd.net/20191213/2019-12-13_14-37-55.png Adam Button
Fri 13 Dec 2019 19:19:02 GMT
Author: Adam Button
Category: News
1
It was framed as one year earlier To put this into context. In 2017, China bought $24 billion in US agriculture. They're just going back to that. This deal is looking sadder by the moment. Earlier today Lighthizer said purchases would increase by $32 billion to $40B and rising to $50 billion per year.

Asset 24 View More
Fri 13 Dec 2019 19:09:00 GMT

1

Kudlow: Deal should be signed "inside of a few weeks"

Kudlow on CNBC Is this a joke? The enforcement process is to talk about it? ForexLive

View More

Kudlow: Deal should be signed "inside of a few weeks"


Adam Button
Fri 13 Dec 2019 19:09:00 GMT
Author: Adam Button
Category: News
1
Kudlow on CNBC Is this a joke? The enforcement process is to talk about it? ForexLive

Asset 24 View More
Fri 13 Dec 2019 19:01:57 GMT

Lawyers for Quadriga customers ask to exhume founder Gerald Cotten’s body

The money is gone and the idea persists that he's still alive The law firm representing users of bankrupt cryptocurrency exchange QuadrigaCX is asking the Canadian police to exhume the body of the company's deceased founder, Gerald Cotten, and conduct an autopsy.

View More

Lawyers for Quadriga customers ask to exhume founder Gerald Cotten’s body


//az705044.vo.msecnd.net/20191213/2019-12-13_13-51-28.png Adam Button
Fri 13 Dec 2019 19:01:57 GMT
Author: Adam Button
Category: Cryptocurrency
0
The money is gone and the idea persists that he's still alive The law firm representing users of bankrupt cryptocurrency exchange QuadrigaCX is asking the Canadian police to exhume the body of the company's deceased founder, Gerald Cotten, and conduct an autopsy.

Asset 24 View More
Fri 13 Dec 2019 18:13:26 GMT

1

Lighthizer: US/China aiming to sign deal 1st week in January

CNBC Kayla Tausche reports is reporting that a briefing between reporters and USTR's Lighthizer has him sharing that the:  CNBC's Kayla Tausche ForexLive

View More

Lighthizer: US/China aiming to sign deal 1st week in January


Greg Michalowski
Fri 13 Dec 2019 18:13:26 GMT
Category: News
1
CNBC Kayla Tausche reports is reporting that a briefing between reporters and USTR's Lighthizer has him sharing that the:  CNBC's Kayla Tausche ForexLive

Asset 24 View More
Fri 13 Dec 2019 18:03:42 GMT

Baker Hughes total rig counts remain unchanged at 799

Oil rigs up 4 on the week - total rigs 799 versus 799 last week - oil rigs 667 versus 663 last week - gas rigs 129 versus 133 last week Crude oil prices are trading at $60.04. That is up $0.87 or 1.47% on the day. The high price reached $60.48. The low price extended to $59.27.

View More

Baker Hughes total rig counts remain unchanged at 799


Greg Michalowski
Fri 13 Dec 2019 18:03:42 GMT
Category: News
0
Oil rigs up 4 on the week - total rigs 799 versus 799 last week - oil rigs 667 versus 663 last week - gas rigs 129 versus 133 last week Crude oil prices are trading at $60.04. That is up $0.87 or 1.47% on the day. The high price reached $60.48. The low price extended to $59.27.

Asset 24 View More
Fri 13 Dec 2019 17:46:05 GMT

Baker Hughes rig count will be released at the top of the hour

Crude oil prices are trading near $60 At the top of the hour, Baker Hughes rig count data for the current week will be released. Last week total rigs came in at 799. The oil rigs came in at 663 and gas rigs came in at 133.

View More

Baker Hughes rig count will be released at the top of the hour


//az705044.vo.msecnd.net/20191213/2019-12-13_10-42-06.jpg Greg Michalowski
Fri 13 Dec 2019 17:46:05 GMT
Category: News
0
Crude oil prices are trading near $60 At the top of the hour, Baker Hughes rig count data for the current week will be released. Last week total rigs came in at 799. The oil rigs came in at 663 and gas rigs came in at 133.

Asset 24 View More
Fri 13 Dec 2019 17:19:33 GMT

The USDJPY still holding above the support area

The 109.20-223 area continues to hold support in up and down session The USDJPY is still holding above the support area at the 109.20 to 109.223 area in what has been an up and down session.  If the price is to head lower, getting below that area and staying below is needed () 

View More

The USDJPY still holding above the support area


//az705044.vo.msecnd.net/20191213/2019-12-13_10-12-26.jpg Greg Michalowski
Fri 13 Dec 2019 17:19:33 GMT
Category: Technical Analysis
0
The 109.20-223 area continues to hold support in up and down session The USDJPY is still holding above the support area at the 109.20 to 109.223 area in what has been an up and down session.  If the price is to head lower, getting below that area and staying below is needed () 

Asset 24 View More
Fri 13 Dec 2019 17:19:04 GMT

UK election results leave Boris Johnson with a large working majority. What it means for the pound

Here's the tally Given that Sinn Fein doesn't take their seats, that leaves Boris Johnson with a working majority of 86. Given that the Conservative party remains fractured, those votes will come in handy. It's going to leave party leadership with a strong hand that I suspect they will increasingly use to strengthen the economy.

View More

UK election results leave Boris Johnson with a large working majority. What it means for the pound


//az705044.vo.msecnd.net/20191213/brexit-is-coming-johnson.png Adam Button
Fri 13 Dec 2019 17:19:04 GMT
Author: Adam Button
Category: News
0
Here's the tally Given that Sinn Fein doesn't take their seats, that leaves Boris Johnson with a working majority of 86. Given that the Conservative party remains fractured, those votes will come in handy. It's going to leave party leadership with a strong hand that I suspect they will increasingly use to strengthen the economy.

Asset 24 View More
Fri 13 Dec 2019 17:10:42 GMT

Japan to boost 2020 GDP estimate to 1.4% from 1.2% in July

Cabinet to approve higher GDP forecast The forecast is for the fiscal year starting in April and it's significantly stronger than the +0.5% consensus and the roughly 0.9% pace this year.

View More

Japan to boost 2020 GDP estimate to 1.4% from 1.2% in July


Adam Button
Fri 13 Dec 2019 17:10:42 GMT
Author: Adam Button
Category: News
0
Cabinet to approve higher GDP forecast The forecast is for the fiscal year starting in April and it's significantly stronger than the +0.5% consensus and the roughly 0.9% pace this year.

Asset 24 View More
Fri 13 Dec 2019 17:05:38 GMT

Atlanta Fed GDPNow Q4 estimate unchanged at 2.0%

Unchanged this week There is no change from the Dec 6 forecast. After this week's data releases from the U.S. Bureau of Labor Statistics, the U.S. Department of the Treasury's Bureau of the Fiscal Service, and the U.S. Census Bureau, increases in the nowcasts of fourth-quarter real government spending growth, real private inventory investment, and real net exports were offset by a decline in the nowcast of fourth-quarter real personal consumption expenditures growth. The NY Fed estimate is at +0.7% with the consensus around 1.6%.

View More

Atlanta Fed GDPNow Q4 estimate unchanged at 2.0%


Adam Button
Fri 13 Dec 2019 17:05:38 GMT
Author: Adam Button
Category: News
0
Unchanged this week There is no change from the Dec 6 forecast. After this week's data releases from the U.S. Bureau of Labor Statistics, the U.S. Department of the Treasury's Bureau of the Fiscal Service, and the U.S. Census Bureau, increases in the nowcasts of fourth-quarter real government spending growth, real private inventory investment, and real net exports were offset by a decline in the nowcast of fourth-quarter real personal consumption expenditures growth. The NY Fed estimate is at +0.7% with the consensus around 1.6%.

Asset 24 View More
Fri 13 Dec 2019 16:59:14 GMT

Fed's Williams: We've got economy on a strong footing and good growth

Comments from Williams in New York These comments were about about 15 minutes ago. There's nothing new here. ForexLive

View More

Fed's Williams: We've got economy on a strong footing and good growth


Adam Button
Fri 13 Dec 2019 16:59:14 GMT
Author: Adam Button
Category: Central Banks
0
Comments from Williams in New York These comments were about about 15 minutes ago. There's nothing new here. ForexLive

Asset 24 View More
Fri 13 Dec 2019 16:50:24 GMT

1

Trump says he was willing to wait after 2020 on phase two talks

Trump comments in the Oval Office: Nothing new here so far. ForexLive

View More

Trump says he was willing to wait after 2020 on phase two talks


Adam Button
Fri 13 Dec 2019 16:50:24 GMT
Author: Adam Button
Category: News
1
Trump comments in the Oval Office: Nothing new here so far. ForexLive

Asset 24 View More
Fri 13 Dec 2019 16:47:57 GMT

European indices are ending the week on a positive note

Major indices are higher on the day The UK FTSE 100 has moved up by 1.1% on the day after Boris Johnson - and the Tories - return the power with a big majority.  The other indices were dragged higher as well as fears of a hard Brexit faded away.

View More

European indices are ending the week on a positive note


//az705044.vo.msecnd.net/20191213/2019-12-13_9-43-06.jpg Greg Michalowski
Fri 13 Dec 2019 16:47:57 GMT
Category: News
0
Major indices are higher on the day The UK FTSE 100 has moved up by 1.1% on the day after Boris Johnson - and the Tories - return the power with a big majority.  The other indices were dragged higher as well as fears of a hard Brexit faded away.

Asset 24 View More
Fri 13 Dec 2019 16:30:12 GMT

1

USDCAD moves to new session highs. Test 100 hour moving average

Topside trend line and 50% retracement on the hourly chart also in play The USDCAD it is trading at a new session high and in the process tests its 100 hour moving average at 1.32031. Just above that level are a topside trend line connecting highs from December 3 and December 11 at 1.3206 and the 50% retracement of the move down from last Friday's postemployment highs. That level comes in at 1.32097.  

View More

USDCAD moves to new session highs. Test 100 hour moving average


//az705044.vo.msecnd.net/20191213/2019-12-13_9-22-59.jpg Greg Michalowski
Fri 13 Dec 2019 16:30:12 GMT
Category: Technical Analysis
1
Topside trend line and 50% retracement on the hourly chart also in play The USDCAD it is trading at a new session high and in the process tests its 100 hour moving average at 1.32031. Just above that level are a topside trend line connecting highs from December 3 and December 11 at 1.3206 and the 50% retracement of the move down from last Friday's postemployment highs. That level comes in at 1.32097.  

Asset 24 View More
Fri 13 Dec 2019 16:19:28 GMT

NY Fed Q4 GDPNowcast +0.69% vs vs +0.58% last week

Fourth quarter tracking estimate from the NY Fed The growth estimate was bumped up but it's still looking like a sluggish quarter. Evidently, they were looking for a much weaker retail sales report than the market, because the numbers were soft relative to the consensus estimate.

View More

NY Fed Q4 GDPNowcast +0.69% vs vs +0.58% last week


//az705044.vo.msecnd.net/20191213/2019-12-13_11-19-09.png Adam Button
Fri 13 Dec 2019 16:19:28 GMT
Author: Adam Button
Category: News
0
Fourth quarter tracking estimate from the NY Fed The growth estimate was bumped up but it's still looking like a sluggish quarter. Evidently, they were looking for a much weaker retail sales report than the market, because the numbers were soft relative to the consensus estimate.

Asset 24 View More
Fri 13 Dec 2019 16:11:31 GMT

1

Euphoria fades as phase on trade deal details revealed

Some details still murky USD/JPY is at the lows of North American trade and back to flat on the day. It appears as though China has balked at putting a specific number on US agricultural and manufacturing purchases, something the US had previously demanded. The problem for China is that putting a specific number on buying US agricultural goods would violate WTO rules. It also risks forcing them to buy US agriculture even if US prices are higher than elsewhere.

View More

Euphoria fades as phase on trade deal details revealed


//az705044.vo.msecnd.net/20191213/2019-12-13_11-09-47.png Adam Button
Fri 13 Dec 2019 16:11:31 GMT
Author: Adam Button
Category: News
1
Some details still murky USD/JPY is at the lows of North American trade and back to flat on the day. It appears as though China has balked at putting a specific number on US agricultural and manufacturing purchases, something the US had previously demanded. The problem for China is that putting a specific number on buying US agricultural goods would violate WTO rules. It also risks forcing them to buy US agriculture even if US prices are higher than elsewhere.

Asset 24 View More
Fri 13 Dec 2019 16:01:34 GMT

EURUSD now tests lower trend line at 1.1125.

The low reached 1.1124 The EURUSD has retraced the move higher from the 5 PM ET close from yesterday. That low was at 1.11246. The low just reached 1.11238. Lap completed.  Also tested at the low is a tren line connecting the Wednesday and Thursday low on the hourly chart.

View More

EURUSD now tests lower trend line at 1.1125.


//az705044.vo.msecnd.net/20191213/2019-12-13_8-58-53.jpg Greg Michalowski
Fri 13 Dec 2019 16:01:34 GMT
Category: Technical Analysis
0
The low reached 1.1124 The EURUSD has retraced the move higher from the 5 PM ET close from yesterday. That low was at 1.11246. The low just reached 1.11238. Lap completed.  Also tested at the low is a tren line connecting the Wednesday and Thursday low on the hourly chart.

Asset 24 View More
Fri 13 Dec 2019 15:42:48 GMT

5

USTR clarifies which US tariffs will be rolled back

Statement obtained by Politico USTR press statement: "The United States will be maintaining 25 percent tariffs on approximately $250 billion of Chinese imports, along with 7.5 percent tariffs on approximately $120 billion of Chinese imports."

View More

USTR clarifies which US tariffs will be rolled back


//az705044.vo.msecnd.net/20191213/2019-12-13_10-51-16.png Adam Button
Fri 13 Dec 2019 15:42:48 GMT
Author: Adam Button
Category: News
5
Statement obtained by Politico USTR press statement: "The United States will be maintaining 25 percent tariffs on approximately $250 billion of Chinese imports, along with 7.5 percent tariffs on approximately $120 billion of Chinese imports."

Asset 24 View More
Fri 13 Dec 2019 15:27:44 GMT

10

Trump says Phase One deal agreed with some tariffs lowered

Trump on the tariff details Trump tweet: We have agreed to a very large Phase One Deal with China. They have agreed to many structural changes and massive purchases of Agricultural Product, Energy, and Manufactured Goods, plus much more. The 25% Tariffs will remain as is, with 7 1/2% put on much of the remainder. The Penalty Tariffs set for December 15th will not be charged because of the fact that we made the deal. We will begin negotiations on the Phase Two Deal immediately, rather than waiting until after the 2020 Election. This is an amazing deal for all. Thank you! The 7.5% number is key. It's unclear which tariffs he's talking about.

View More

Trump says Phase One deal agreed with some tariffs lowered


//az705044.vo.msecnd.net/20191213/2019-12-13_10-38-33.png Adam Button
Fri 13 Dec 2019 15:27:44 GMT
Author: Adam Button
Category: News
10
Trump on the tariff details Trump tweet: We have agreed to a very large Phase One Deal with China. They have agreed to many structural changes and massive purchases of Agricultural Product, Energy, and Manufactured Goods, plus much more. The 25% Tariffs will remain as is, with 7 1/2% put on much of the remainder. The Penalty Tariffs set for December 15th will not be charged because of the fact that we made the deal. We will begin negotiations on the Phase Two Deal immediately, rather than waiting until after the 2020 Election. This is an amazing deal for all. Thank you! The 7.5% number is key. It's unclear which tariffs he's talking about.

Asset 24 View More

More Headlines


By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose