Will Trump TACO Again on Tariffs?

[short-Timer]

The U.S. still hasn’t secured trade deals with Mexico, India, China, Canada, South Korea, or Brazil, six of the world’s largest and most strategically important economies. Together, these countries represent roughly 40 percent of the global population, making them essential players in both U.S. and global trade. Their absence from any formal agreements is a glaring gap in the current administration’s trade strategy.

 

In the case of China, both sides appear to have agreed to delay negotiations by another month, effectively kicking the can down the road again. But unless Trump pulls another “TACO” maneuver to delay tariffs again with these six other critical countries, the situation is looking increasingly shaky, wobbly at best, especially with August first just a day away.

 

Beyond that, there are well over 100 other countries that still have no trade agreements in place with the U.S. After six months in office, that raises serious doubts about Trump's progress on global trade.

 

So far, Trump’s only two major trade deals are with Japan and Europe, which together account for only about one billion people, or just 12.5 percent of the global population. When you step back and look at the numbers, the footprint is remarkably narrow. Especially considering that roughly 70 percent of the global population relevant to trade still falls outside of having formed any formal trade deals with the U.S.

 

Still winning?

[angryguy]

6 minutes ago, short-Timer said:

So far, Trump’s only two major trade deals are with Japan and Europe

Only those two? Damn. Id bet Kamala would have had more than that by now wouldnt she. I guess trump should just not even bother trying and let the rest get hit with huge tariffs and see how things play out. The left will cling to their lame memes until all they have left is taco remorse and humiliation 

[Purdey]

Deflecting to make the story about Kamala? The OP has some interesting points that are worth debating. Two trade deals are pretty poor.

[HappyExpat57]

Whether he TACOs or not is no longer relevant. No one believes a thing he says, and this has completely undermined the trust from trade partners around the world. Each day brings new reports of factories shutting down in the US, and ALL of them say the tariffs played a part in their closure. Del Monte, formerly a US staple in every pantry, is going under and they directly blamed the tariffs.

 

But HEY, let's hang Obama for treason!

[JAG]

2 hours ago, angryguy said:

Only those two? Damn. Id bet Kamala would have had more than that by now wouldnt she. I guess trump should just not even bother trying and let the rest get hit with huge tariffs and see how things play out. The left will cling to their lame memes until all they have left is taco remorse and humiliation 

I should have imagined a Democrat administration wouldn't have gone out and started a trade war in the first place, one based on a totally faux mathematical formula to fix tariff levels. Nor would they have justified it by declaring a state of emergency, and using that to prevent any congressional oversight.

 

Tariffs serve two purposes for Mr Trump, he intends them to become a primary source of government revenue, replacing personal taxation to the benefit of his wealthy backers, and they provide him with a big stick with which he can threaten other countries. 

[jerrymahoney]

This lawsuit in court this week could throw a wrench in Trump's trade policy. Here's what to know.

July 29, 2025 / 1:47 PM EDT / CBS News

 

The lawsuit challenges President Trump's claim that he has authority under the International Emergency Economic Powers Act of 1977 (IEEPA) to issue tariffs, a process that normally requires congressional approval. 

 

A victory by the plaintiffs could deal a blow to Mr. Trump as he seeks to negotiate trade deals with U.S. economic partners.

 

"This case is about more than high tariffs," Brent Skorup, a legal fellow at the Cato Institute, a Washington, D.C., nonpartisan think tank, said in an email to CBS MoneyWatch. "It's about whether a president can stretch a vague statute beyond recognition to sidestep Congress."

 

https://www.cbsnews.com/news/trumps-trade-tariffs-international-court-federal-circuit/

[short-Timer]

Trump just paused tariffs on Mexico for another 90 days. Presumably he will soon do the same for India and Brazil. Looks like it's the TACO happy hour 2.0.