Mnuchin says U.S., China will sign phase one trade pact early next month...record-setting ...

美재무 "미중 1단계 합의, 1월초 서명할 것"...뉴욕증시 주요 지수 사상 최고치 Mnuchin says U.S., China will sign phase one trade pact early next month...record-setting rally resumes on Wall Street We're seeing some progress in regards to the so-called "phase one trade deal" between the world's two largest economies. The U.S. has confirmed that Washington and Beijing are going to sign the deal early next month... and on the news, U.S. shares hit record highs. Lee Min-sun reports. U.S. Treasury Secretary Steven Mnuchin says the U.S. and China will sign their phase one trade deal in early January. In an interview with CNBC on Thursday, Mnuchin said he was confident the signing will take place, but it's still going through comprehensive technical and legal steps. He also told reporters the pact is already in the documentation and translation process and is not subject to renegotiation. "You know, we're going through a technical issue now where again, the agreement is being translated. I don't expect there's any changes. We'll sign the agreement in the beginning of January. Our focus on the moment is implementing Phase 1... This is going to be a tremendous opportunity for U.S. workers and for U.S. companies." The deal will see China purchasing American farm products and the U.S. lifting tariffs on China. "China and the United States have reached an agreement on the text of the phase one trade deal on the basis of equality and mutual respect. The United States will perform its commitment on partly canceling tariffs on Chinese goods and phasing out some tariffs slated to be added on Chinese products." Despite Congress voting to impeach President Trump, updates on the trade deal came as a strong sign for investors. "Yes, it's been a sustained move higher, but it may have built in a lot of sort of good news and a lot of expectations about the trade agreement moving forward." Wall Street's major indexes resumed their rally with fresh records on Thursday. The benchmark S&P 500 hit a sixth straight all-time high, its longest streak since January 2018, and the Nasdaq ended with gains for the seventh session in a row. The Dow Jones Industrial Average joined the other two in notching record closing highs. Lee Min-sun Arirang News. #Mnuchin #China #deal Arirang News Facebook:   / arirangtvnews