Jason Draho, U.S. head of asset allocation Americas at Swiss financial institution UBS, said the most important impact of the phase-one deal would help improve business sentiment, which could push investment into "projects that have been on hold."
"If that happens, I think the whole global outlook next year looks better than what most people were forecasting just a month or two ago," Draho noted.
Tom Watkins, an advisor to Michigan-China Innovation Center, said the deal "is a good step in the right direction for the Chinese and American people and the global economy," and "provides a foundation for further fruitful bilateral trade negotiations."
Steven Englander, global head of G10 FX research and North America macro strategy at the Standard Chartered Bank, said the deal reduces a lot of downside risks with respect to really bad outcomes.
The deal "will bring much-needed certainty to our supply chain stakeholders and long-awaited relief to our customers," said Noel Hacegaba, deputy executive director at Port of Long Beach, the second busiest container port in the United States.
In particular, he welcomed the call-off of tariff hikes, saying that "China is our largest trade partner, accounting for nearly 70 percent of our cargo. This deal will help stabilize our cargo volumes and enable our port to continue to support our local, regional and national economies."
Lauding the deal, the Montana Grain Growers Association said in a statement emailed to Xinhua, "We are very encouraged by the news ... especially the announcement that China will increase their agricultural purchases."
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