Former President Donald Trump suggested that trade agreements might be reached in the week of May 6, 2025. First he discussed the status of negotiations with other large trading partners. And yet during his remarks, Trump made clear that the United States is “very close to some deals.” In particular, he praised the great success in the ongoing negotiations with India.
Trump’s remarks come at a time where there is much confusion. The Trump administration has provided little detail regarding what exactly these deals would entail, making the business community anxious for more substantive guidance. Last week, top aides hinted that too many deals are “close” — or almost there — to be lacking the details needed to be crossed off. As Trump admitted, the messaging from his administration regarding the probability of any deals getting signed has not been clear enough.
“I think my people haven’t made it clear, we will sign some deals,” – Donald Trump
On May 6, Trump hosted Canadian Prime Minister Mark Carney at the White House. The importance of this meeting exemplifies the vigorous attention to trade talks of his administration thus far. While Trump expressed optimism about the talks with India, he pointed out that his administration’s strategy has shifted away from prioritizing trade agreements. He addressed concerns that the U.S. is trying to take away other countries’ markets.
“We don’t have to sign deals, they have to sign deals with us. They want a piece of our market. We don’t want a piece of their market,” – Donald Trump
On May 5, 2025, U.S. equity markets plummeted. Uncertainty and anxiety. Nevertheless, investors reacted strongly to the former president’s comments, which heightened concerns about ongoing trade negotiation. With those two comments, Trump is admitting that the trade slowdown from tariffs is still playing out. We are still yet to feel the full brunt of this slowdown.
Peter Navarro, an advisor to Trump, stated that the White House is moving “as fast as possible” on securing an India trade deal. From the business community’s perspective, leaders are hopeful. They think the administration is in a good spot to negotiate bilateral agreements, particularly with key partners Japan and South Korea.
Trump has made it clear that he wishes to manage expectations regarding the number of deals being finalized. Among the many tangential issues touched on were his criticisms of an over-reliance on short term results.
“Everyone says, ‘when, when, when are you going to sign deals?’” – Donald Trump
In fact, Trump strongly reinforced a much larger economic vision for the U.S. He framed it as a super exclusivity shop, where people gleefully line up to buy overpriced products.
“But much bigger than that is we’re going to put down the price that people are going to have to pay to shop in the United States. Think of us as a super luxury store, a store that has the goods,” – Donald Trump
As discussions continue, it remains to be seen how these potential trade agreements will shape U.S. relations with its trading partners and influence the overall economy.
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