william blue croft has more on this thanks for joining us william. what is the effect likely to be of this big deal i mean mostly right now it's relief and a lot of wait and see often the most instant reaction we get for how investors are thinking about any potential changes in trade deals is the markets and friday we saw it was u.s. markets or rather mixed they were unimpressed all the way told markets open on monday to see if this new announcement today from china has any big impact but everyone is pretty much on the same page that anytime there's a reduction in tariffs or in something in this case the removal of tariffs is only a good thing in a much longer path towards a more substantive trade deal between the u.s. and china well that's been next question they're calling this phase one where does this fit into the overall picture how many faces what's happening i mean it's unknown how many faces there might be in phase one is not even really set yet i mean it's not even any announcement when it's really going to be signed it's just been agreed to