# Factbox: What is actually in the U.S.-China 'Phase One' trade deal?

> Reuters factbox details the U.S.-China Phase One trade deal, noting China has set no hard purchase targets. China said it will import more U.S. wheat, rice, corn, energy and other goods. The deal is a framework rather than a binding quantity commitment.

- Date: 2019-12-16 · published 2019-12-16T12:00:00.000Z
- Category: trade · region China · magnitude medium
- Page: https://feedsoft.ai/events/55443-factbox-what-is-actually-in-the-u-s-china-phase-one-trade-deal
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Without hard targets, the expected lift to U.S. grain demand is uncertain, though pledges to buy wheat, corn and rice are supportive for those prices.

## Read by commodity

- WTI: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2019-10-11 | [Trump announces 'phase one' trade deal with China](https://feedsoft.ai/events/56427-trump-announces-phase-one-trade-deal-with-china.md) | +2.8% | +0.3% |
| CORN | 2021-09-02 | [Phase One Trade Deal Now in Final Quarter -](https://feedsoft.ai/events/44958-phase-one-trade-deal-now-in-final-quarter.md) | -3.0% | -5.5% |
| CORN | 2021-10-04 | [Why Biden will try to enforce Trump’s phase one trade deal with China \| PIIE](https://feedsoft.ai/events/44413-why-biden-will-try-to-enforce-trump-s-phase-one-trade-deal-with-china-piie.md) | -0.2% | +3.7% |
| CORN | 2019-12-12 | [Corn, wheat, soy rally on U.S.-China trade hopes, export demand \| Financial Post](https://feedsoft.ai/events/6298-corn-wheat-soy-rally-on-u-s-china-trade-hopes-export-demand-financial-post.md) | +5.5% | +5.7% |
| CORN | 2019-03-04 | [U.S. and China Near a Trade Deal to Drop Tariffs](https://feedsoft.ai/events/59969-u-s-and-china-near-a-trade-deal-to-drop-tariffs.md) | -2.2% | -1.8% |
| WHEAT | 2019-10-11 | [Trump announces 'phase one' trade deal with China](https://feedsoft.ai/events/56427-trump-announces-phase-one-trade-deal-with-china.md) | +4.8% | +2.1% |
| WHEAT | 2019-12-12 | [Corn, wheat, soy rally on U.S.-China trade hopes, export demand \| Financial Post](https://feedsoft.ai/events/6298-corn-wheat-soy-rally-on-u-s-china-trade-hopes-export-demand-financial-post.md) | +2.5% | +4.4% |
| WHEAT | 2020-02-18 | [China takes steps to make good on trade deal](https://feedsoft.ai/events/54482-china-takes-steps-to-make-good-on-trade-deal.md) | -0.9% | -0.1% |

## Sources

- reuters.com: https://www.reuters.com/article/business/factbox-what-is-actually-in-the-us-china-phase-one-trade-deal-idUSKBN1YK1QT/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.