China Tariffs

Trump said it is a "landmark agreement."

All three of the major averages are trading in record territory.

The pact, which may add half a point to U.S. GDP this year, is only the initial phase of a broad agreement that Trump has said may come in as many as three sections.

Trump signed the first phase of a trade deal with China on Wednesday, marking an easing in tensions that have rattled global markets.

Under the phase one U.S.-China trade agreement, Beijing has agreed to buy between $40 billion and $50 billion in American agriculture -- roughly 25 percent of overall purchases, the secretary of agriculture said.

Top level U.S. and Chinese officials convene in Washington to sign a vastly important trade agreement that will be "quite a spectacle," FOX Business' Stuart Varney argued in his latest "My Take."