Trump's Ambitious Goals Lag Amidst Tariff Deadlines and Negotiation Challenges

President Donald Trump's administration initially promised a rapid succession of trade deals, aiming for "90 trade deals in 90 days." However, the progress has been slower than anticipated. As of the current time, only "framework" agreements with two countries have been established.

The administration's implementation of sweeping tariffs, dubbed "Liberation Day" tariffs, is scheduled to take effect on July 8. Critics have expressed concern over the limited progress in securing trade agreements, which has created economic uncertainty for American businesses.

Marc Short, who previously held positions in Trump's administration, noted that the initial promise of numerous deals has not been met. He observed that the administration is likely to highlight these framework agreements as significant achievements. Short also suggested that other nations are adopting a wait-and-see approach, anticipating that Trump might be more inclined to compromise due to economic pressures.

The White House has presented recent trade deal progress with China as a major success. A White House official expressed optimism about ongoing negotiations with other countries. Trump himself declared the deal with China as "done," pending final approval.

The U.K. recently secured exemptions from U.S. tariffs for its car manufacturers, steel producers, and farmers. Despite these developments, the initial goal of achieving a large number of trade deals within a short timeframe appears unlikely. Treasury Secretary Scott Bessent indicated that the July 8 deadline might be extended for countries engaged in good-faith negotiations with the U.S. Trump has also indicated a willingness to consider deadline extensions, while maintaining confidence in the progress of trade negotiations.