Five minutes after stock markets opened today, US President Trump tweeted “Getting VERY close to a BIG DEAL with China. They want it, and so do we!” On Sunday, the trade deal deadline for a phase-one trade deal will pass, and if no deal has been signed, the US may add additional tariffs. US markets surged to fresh all-time highs amid hopes that a deal will be signed. As part of this deal, 50% of the existing tariffs are set for a rollback. This represents a change in attitude from just weeks ago when Trump stated that he would prefer a deal after the 2020 election.