Phase Two and Three China Deals Unlikely, Int'l Capital Strategies CEO Says

The transcript discusses the nervousness of markets in response to trade headlines, particularly regarding US-China negotiations. It highlights the anticipation of a phase one trade deal, with President Trump's commitment to moving forward. The discussion includes the strategy of reducing tariffs on a phased basis and the potential enforcement mechanisms. The transcript also covers the likelihood of future phases and structural reforms, noting that China is primarily interested in changes that benefit them, such as commodity purchases and financial services market opening, rather than the structural reforms desired by the US.

What is the significance of the phrase 'phase one deal' in the context of the negotiations?

What are the potential challenges mentioned regarding the structural reforms in the negotiations?