President Trump announces new China trade deal

President Trump says he has agreed to a phase one deal with China on trade.
2:33 | 12/13/19

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Transcript for President Trump announces new China trade deal
Another topic in many people are talking about today that is the new trade deal that president trump has announced with China he's calling it speeds one of this deal. But it's a freeze he's actually used just a couple months ago let's go up to Capitol Hill where I'm joined by my White House colleague captain Jordan Phelps. Who's who watching this one for us of Jordan where does it stand right now because they said the president used that exact phrase in October and nothing was signed at that point in time. But here we are December a new phase one. Hey John and that's one of the big caveats which is steel the president. Has announced that he's reached a deal with China before he's gotten tantalizingly. Close on more than one occasion only to see it fall apart. So John I think we should all keep holding our breath just a little bit. And tell these two leaders actually get together for a signing ceremony and sign on the dotted line if you will. We're told by Larry Kudlow one of the president's top economic advisors that such as ceremonies probably still a few weeks away. So John this is good news no doubt it's being. Heralded by the president it's welcome news for farmers for manufacturers. For the stock market. But is just not a done deal yet John and again. As you noted this is just phase one so there are a lot of issues that remain yours opt on. And Jordan it's funny you actually need a very Smart point on Twitter you often do not take this is a one off but just to make the point that date YouTube flag literally within seconds of that impeachment vote up on Capitol Hill we sort of present and suddenly announced this deal almost saying don't look over there look over here in stat. It was within minutes of the house voting to approve those two articles of impeachment. That the president fired off this tweet announcing that a phase one deal had been announced so. Don if the president needed another headline in that moment he shirt. As hack got it. This is just the latest in and kind of a slew of good news that president trump has gotten amid the impeachment. It's sort of interesting how this is all coalescing. And developing out the same time the president also of course Scott that announcement that the house would approve the US in TA that revised. NAFTA trade agreement with. Mexico and Canada. As the house was was moving. Forward with this impeachment inquiry Jon sale in peace. Things are all coming together at the same time really interesting split screens all around lot of split screens indeed Jordan Phelps up on Capitol Hill thank you Jordan.

This transcript has been automatically generated and may not be 100% accurate.

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