U.S. official: Trade deal is ‘absolutely’ done

Your editor may be persistently pessimistic, but others are more hopeful that the U.S. and China will actually sign a phase one trade deal.    

The phase one deal “is done,” according to U.S. Trade Representative Robert Lighthizer, speaking on Face the Nation:

This is something that happens in every agreement. There’s a translation period. There are some scrubs. This is totally done. Absolutely.

“They’re…going to double our exports to China,” National Economic Council Director Larry Kudlow told Fox News Channel, reports Reuters, who also said that the phase one trade deal between Washington and Beijing has been “absolutely completed.”

Others are less bubbly. The U.S.-China trade talks aren’t out of the woods yet despite interim deal, says the South China Morning Post. The Financial Times is even more wary that the deal could fall apart: Vague detente in U.S.-China trade war hinges on tricky implementation (paywall).

The damage done so far: “Trump administration officials predicted big gains for the economy from a newly announced trade deal with China, but the economic losses sustained during a bruising 19-month trade war will not be easy to make up,” says the New York Times (porous paywall).