FTSE 250 rockets to record high; US and China agree phase one deal – business live
Shares and sterling are rallying as the financial markets react to the Conservative Party’s election triumph
- Latest: trade deal finally agreed
- Chancellor Javid promises ‘deal dividend’ for economy
- FTSE 250 hits all-time high
- Introduction: It’s Blue Friday in the City
- Sterling hits 18-month high vs US dollar
3.55pm GMT
The U.S. Trade Representative says in a new statement that some tariffs will be maintained amid this ‘phase one’ deal:
• 25% on ~$250B of Chinese imports
• 7.5% on ~$120B of Chinese imports
More: https://t.co/8OeReRLmjc pic.twitter.com/0ZpHxdQyDD
3.54pm GMT
China’s government has confirmed that a phase one trade deal has been reached with the US.
Just as Trump was tweeting, finance minister Liao Min told reporters that the text of a deal had been agreed.
Editor
