$SPY Here is some actual due diligence on Phase 1 deal and why trade talks have really gone to shit. In April a “very complete” deal was lined up to increase agriculture, energy, and aircraft purchases. As they were “finalizing it”, it fell through when China just deleted all parts related to enforcing the agreement, IP, tech, finance, and currency. Now we have Phase 1 (which hasn’t been written), which will be “for the farmers” or whatever. China wants no tariffs, and likely no enforcement like last time. Soybeans, pork, and poultry have been mentioned specifically. China has ramped up soybean purchases from Brazil during talks, reaching a 9-month high in October. On Tuesday China resumed pork and beef imports from Canada. On Wednesday China and France made a deal to import poultry, beef, and pork. The deal also included Airbus A350s and LNG energy imports. The only agriculture exports left for American farmers are nothing burgers. China wins, China is asshoe.