In recent weeks, President Donald Trump and his administration expressed optimism that tariffs would compel foreign nations to engage in numerous new trade deals. Trump claimed these countries were eager to negotiate, stating, “They are dying to make a deal.” However, this enthusiasm has waned as it became evident that agreements would not materialize as rapidly as anticipated. Amid rising criticism that his tariffs could lead to increased consumer prices and adversely impact the economy, which experienced its first negative growth in years, Trump openly voiced frustration over the lack of immediate results.
Trump had initially set a 90-day period for negotiations, suggesting that numerous deals were pending. However, Treasury Secretary Scott Bessent revealed to lawmakers that discussions with trading partners were not as advanced as Trump and trade adviser Peter Navarro suggested. He admitted that negotiations were ongoing with a limited number of countries and that reaching agreements could take longer than anticipated. Bessent acknowledged that while there may be announcements soon, the timelines were more conservative than previously communicated.
The White House now emphasizes the importance of substance over speed in achieving trade agreements. Trump maintains the authority to raise tariffs unilaterally but may need Congress’s involvement for more comprehensive deals. Currently, his administration relies heavily on tariffs as a negotiating tool to secure concessions on duties and trade barriers. Ultimately, the White House acknowledges that the negotiations depend on the responses from other countries rather than an expedited timeline for signing multiple deals.
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