Welcome to today’s podcast. In a surprising shift, President Trump has backed off his earlier promises regarding tariffs and trade deals. At a recent press conference alongside the Canadian Prime Minister, Trump declared, “We don’t have to sign deals,” signaling a departure from his previous insistence that tariffs would compel trading partners to negotiate for better terms with the U.S.

Despite early optimism that 70 nations were eager to sign agreements within days of announcing hefty tariffs, no notable deals have emerged after more than a month. Trump expressed frustration with reporters’ inquiries about these deals, stating, “I wish they’d stop asking how many deals are you signing this week.” He even indicated that future “deals” might be unilateral demands rather than traditional agreements.

While Trump’s trade adviser expects announcements soon, complexity in negotiations often stretches these processes over years. Meanwhile, Treasury official Scott Bessent confirmed negotiations are ongoing but notably excluded discussions with China, the world’s second-largest economy.

As the landscape of U.S. trade evolves, uncertainty remains, with Trump hinting, “One day we’ll come and we’ll give you 100 deals.” Stay tuned as this story develops.
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