# Trump announces 'phase one' trade deal with China

> President Trump announced a substantial phase one trade deal with China that cancels a planned October 15 tariff increase on $250 billion of Chinese imports. Under the deal, China would purchase $40 to $50 billion of U.S. agricultural products, with text expected within weeks.

- Date: 2019-10-11 · published 2019-10-11T12:00:00.000Z
- Category: trade · region US · magnitude high
- Page: https://feedsoft.ai/events/56427-trump-announces-phase-one-trade-deal-with-china
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Live Cattle](https://feedsoft.ai/c/LCATTLE.md), [Lean Hogs](https://feedsoft.ai/c/HOGS.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A committed $40-50 billion farm purchase program is a major bullish driver for U.S. soybeans, corn, and meal, though implementation risk remains.

## Read by commodity

- DXY: neutral
- SOY: bullish ▲
- CORN: bullish ▲
- HOGS: bullish ▲
- WHEAT: bullish ▲
- LCATTLE: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| HOGS | 2019-10-14 | 1 | +7.3% | 4.0 | Trump's phase one deal announced Oct 11 cancelled the Oct 15 tariff hike and promised $40-50B of Chinese ag purchases, which drove a demand and export rally in lean hogs on the next trading session (Oct 14). |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 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) | -0.3% | -0.9% |
| SOY | 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) | -1.5% | -1.7% |
| SOY | 2020-05-27 | [China facing soybean dilemma as it tries to balance phase one trade deal with self-reliance \| South China Morning Post](https://feedsoft.ai/events/52988-china-facing-soybean-dilemma-as-it-tries-to-balance-phase-one-trade-deal-with.md) | +0.4% | +3.3% |
| SOY | 2026-05-19 | [White House expands trade deal with China \| World Grain](https://feedsoft.ai/events/14580-white-house-expands-trade-deal-with-china-world-grain.md) | -2.2% | -6.8% |
| SOY | 2020-06-22 | [Q4 Key to China Trade Deal - ProAg](https://feedsoft.ai/events/52467-q4-key-to-china-trade-deal-proag.md) | -1.3% | +3.0% |
| 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 | 2019-12-16 | [Factbox: What is actually in the U.S.-China 'Phase One' trade deal?](https://feedsoft.ai/events/55443-factbox-what-is-actually-in-the-u-s-china-phase-one-trade-deal.md) | +4.2% | +4.8% |
| 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% |

## Sources

- nbcnews.com: https://www.nbcnews.com/politics/donald-trump/trump-announces-phase-one-trade-deal-china-n1065221

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