On June 26, during an event at the White House, U.S. President Donald Trump announced that the United States and China had signed a significant trade agreement. He described it as a step toward “opening the doors of China,” allowing American companies greater access to the Chinese market. However, details of the deal have not yet been made public, sparking considerable interest and caution among investors and market participants.

U.S. Commerce Secretary later confirmed the agreement was signed on June 25, but without access to the full terms, markets remain hesitant. While many analysts view the deal as a positive development in U.S.-China trade relations, they also note that its long-term impact will depend heavily on the specifics of its implementation.

The timing is also notable—it follows the conclusion of the second round of trade talks between the two countries, and is widely seen as a signal that tensions between Washington and Beijing may be easing. Alongside the news of the China agreement, Trump also mentioned ongoing negotiations with India for a separate deal. He further hinted that the U.S. may impose tariffs as high as 25%, 35%, or even 45% on certain countries to strengthen its bargaining position.

In addition to trade policy, Trump addressed the growing concern over the flow of fentanyl and similar synthetic drugs into the U.S. He stated that tariffs have already been imposed on countries like China and Mexico, which are frequently linked to the fentanyl supply chain, as a form of pressure to curb drug trafficking.

Trump also used the event to promote a new piece of tax legislation, dubbed the “Big and Beautiful Tax Act,” which he says will be submitted to the Senate by July 4. The proposal is aimed at further boosting domestic economic growth.

Despite these announcements, market reactions have been cautious. Without concrete details of the China deal, investors are taking a wait-and-see approach. Some market analysts suggest that if the agreement truly leads to more open access to the Chinese market and helps rebalance trade, it could benefit sectors such as tech, agriculture, and manufacturing. However, any setbacks in implementation or future negotiations could trigger volatility.

In short, while this agreement appears to be a step in the right direction, much remains uncertain. Investors—particularly those in Asia and Hong Kong—will be watching closely for official disclosures and real-world outcomes before drawing meaningful conclusions about its economic impact.