Coming trade deals or massive inflation?

[spidermike007]

After pausing his “Liberation Day” tariffs that sent levies surging for dozens of countries’ exports to the United States, Trump has sought to make a number of bilateral trade deals that would open American businesses’ access to foreign markets and boost US manufacturing. The deadline is July 9. Trump has just two deals to show for his efforts over the past two months.

 

Trump and other world leaders had hoped to use the G7 meeting in Canada this week to hammer out more. The announcement of new deals could have solidified confidence that the US and global economies could avoid a recession this year – a major question mark that most economists believed was a distinct possibility just a few weeks ago.

 

Then he abruptly left early. Trump and his economic team have long promised deals that have been “coming soon” for weeks. So far, only the United Kingdom and China have agreed to frameworks for US trade negotiations.

 

The UK signed its agreement at the G7 this week. And China met US trade representatives in the United Kingdom last week and agreed to the terms of a previous arrangement after tensions escalated in recent weeks. Well, at least sort of.

 

But Commerce Secretary Howard Lutnick once again promised last week that new trade deals are right around the corner. “There are so many coming,” Lutnick told CNBC last Wednesday. “You’re going to see deal after deal, they’re going to start coming next week and the week after and the week after. We’ve got them in the hopper.”

 

At the G7, the US and Canada agreed to a 30-day timeline for a bilateral agreement, but a Canadian proposal privately broached with Trump that exchanged defense spending increases for a reprieve from Trump’s steel and aluminum tariffs didn’t appear to gain any traction, two officials said.

 

A pull aside between Trump and Japanese Prime Minister Shigeru Ishiba didn’t yield the agreement that Japanese officials had hoped for weeks could be finalized at the summit. Meanwhile, Trump left behind in Canada a number of world leaders with frayed nerves but no new trade deals at the clock ticks down to zero.

 

“So we’re beginning to see some effects. We expect to see more,” Fed Chairman Powell said during his post-meeting press conference. “We’ve had goods inflation just moving up a bit, and, of course, we do expect to see more of that over the course of the summer.”

 

So where does this leave us with the "world's greatest negotiator" having only negotiated one deal and a very abstract framework for a second? Are things not going according to plan? Did Trump overestimate the influence of America in 2025? Is the world shunning the US? 

 

 

[candide]

28 minutes ago, spidermike007 said:

After pausing his “Liberation Day” tariffs that sent levies surging for dozens of countries’ exports to the United States, Trump has sought to make a number of bilateral trade deals that would open American businesses’ access to foreign markets and boost US manufacturing. The deadline is July 9. Trump has just two deals to show for his efforts over the past two months.

 

Trump and other world leaders had hoped to use the G7 meeting in Canada this week to hammer out more. The announcement of new deals could have solidified confidence that the US and global economies could avoid a recession this year – a major question mark that most economists believed was a distinct possibility just a few weeks ago.

 

Then he abruptly left early. Trump and his economic team have long promised deals that have been “coming soon” for weeks. So far, only the United Kingdom and China have agreed to frameworks for US trade negotiations.

 

The UK signed its agreement at the G7 this week. And China met US trade representatives in the United Kingdom last week and agreed to the terms of a previous arrangement after tensions escalated in recent weeks. Well, at least sort of.

 

But Commerce Secretary Howard Lutnick once again promised last week that new trade deals are right around the corner. “There are so many coming,” Lutnick told CNBC last Wednesday. “You’re going to see deal after deal, they’re going to start coming next week and the week after and the week after. We’ve got them in the hopper.”

 

At the G7, the US and Canada agreed to a 30-day timeline for a bilateral agreement, but a Canadian proposal privately broached with Trump that exchanged defense spending increases for a reprieve from Trump’s steel and aluminum tariffs didn’t appear to gain any traction, two officials said.

 

A pull aside between Trump and Japanese Prime Minister Shigeru Ishiba didn’t yield the agreement that Japanese officials had hoped for weeks could be finalized at the summit. Meanwhile, Trump left behind in Canada a number of world leaders with frayed nerves but no new trade deals at the clock ticks down to zero.

 

“So we’re beginning to see some effects. We expect to see more,” Fed Chairman Powell said during his post-meeting press conference. “We’ve had goods inflation just moving up a bit, and, of course, we do expect to see more of that over the course of the summer.”

 

So where does this leave us with the "world's greatest negotiator" having only negotiated one deal and a very abstract framework for a second? Are things not going according to plan? Did Trump overestimate the influence of America in 2025? Is the world shunning the US? 

 

 

Trade deals may not be free trade deals. It's impossible to predict anything about Trump, but his intent seems to be to finance his tax cuts with tariffs paid by American consumers and businesses. The 10% base tariff may remain in a certain number of cases. Of course, he will lie again and claim that it's the exporting countries that are paying tariffs, not Americans! 😆

 

[SunnyinBangrak]

1 hour ago, spidermike007 said:

After pausing his “Liberation Day” tariffs that sent levies surging for dozens of countries’ exports to the United States, Trump has sought to make a number of bilateral trade deals that would open American businesses’ access to foreign markets and boost US manufacturing. The deadline is July 9. Trump has just two deals to show for his efforts over the past two months.

 

Trump and other world leaders had hoped to use the G7 meeting in Canada this week to hammer out more. The announcement of new deals could have solidified confidence that the US and global economies could avoid a recession this year – a major question mark that most economists believed was a distinct possibility just a few weeks ago.

 

Then he abruptly left early. Trump and his economic team have long promised deals that have been “coming soon” for weeks. So far, only the United Kingdom and China have agreed to frameworks for US trade negotiations.

 

The UK signed its agreement at the G7 this week. And China met US trade representatives in the United Kingdom last week and agreed to the terms of a previous arrangement after tensions escalated in recent weeks. Well, at least sort of.

 

But Commerce Secretary Howard Lutnick once again promised last week that new trade deals are right around the corner. “There are so many coming,” Lutnick told CNBC last Wednesday. “You’re going to see deal after deal, they’re going to start coming next week and the week after and the week after. We’ve got them in the hopper.”

 

At the G7, the US and Canada agreed to a 30-day timeline for a bilateral agreement, but a Canadian proposal privately broached with Trump that exchanged defense spending increases for a reprieve from Trump’s steel and aluminum tariffs didn’t appear to gain any traction, two officials said.

 

A pull aside between Trump and Japanese Prime Minister Shigeru Ishiba didn’t yield the agreement that Japanese officials had hoped for weeks could be finalized at the summit. Meanwhile, Trump left behind in Canada a number of world leaders with frayed nerves but no new trade deals at the clock ticks down to zero.

 

“So we’re beginning to see some effects. We expect to see more,” Fed Chairman Powell said during his post-meeting press conference. “We’ve had goods inflation just moving up a bit, and, of course, we do expect to see more of that over the course of the summer.”

 

So where does this leave us with the "world's greatest negotiator" having only negotiated one deal and a very abstract framework for a second? Are things not going according to plan? Did Trump overestimate the influence of America in 2025? Is the world shunning the US? 

 

 

Reading this, it sounds like you accept the Trump tariffs worked. This must be painful🤣