BofA Global Research said it is too early to make conclusions that an immediate de-escalation of US-China trade war lasts indefinitely.
The research house noted that the inclusion of a "snap-back" provision, which implies an automatic tariff hike to the original levels if China fails to deliver its promise on agricultural purchases, could complicate the trade outlook again easily.
In addition, some more challenging and sensitive issues, such as Huawei's purchase of tech products, are left out of this phase-one deal. Without such large orders of electronic goods and software, the target of Chinese import increases may be jeopardized. Therefore, BofA suggested more caution be exercised before jumping to an overly optimistic conclusion.
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