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Will Phase 1 Deal Suffer from Coronavirus?

Markets are noticing dearth of buying activity

Container ship New Orleans

Two weeks ago, the US and China completed a phase-one trade deal. Then a health crisis gripped the world’s second-largest economy, reports Fortune.

Since then Chinese buyers have booked only modest amounts of U.S. soybeans, pork and cotton, according to government data.

Sure, it’s early days and coronavirus is an ongoing emergency. Barges aren’t ordered, loaded and delivered that quickly anyway.

But markets are noticing the dearth of buying activity, wondering how big of a dent to demand the health scare will cause.

While the agreement granted grace periods of 10 days or more to sort out paperwork, traders are growing impatient to see the follow-through from China.

Read the full report at Fortune.

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