We’ve gone from 200 deals “100%” to threats of returning to reciprocal tariffs if countries don’t deal.
Renewed Reciprocal Threat
Tariff rates will soon return to a “reciprocal” level if countries don’t reach trade agreements during the 90-day pause, Treasury Secretary Scott Bessent said Sunday.
“President Trump has put them on notice that if you do not negotiate in good faith, you will ratchet back up to your April 2 level,” Bessent said on CNN’s “State of the Union with Jake Tapper.”
Good Proposals Coming In
The Hill quotes Bessent Countries bringing ‘good proposals’ with ‘a few exceptions’
“I can tell you that, with a few exceptions, the countries are coming with very good proposals for us,” Bessent told CNN’s Jake Tapper. “They want to lower their tariffs; they want to lower their nontariff barriers.”
If they are good proposals, with few exceptions, then take them and name them.
No one believes these lies.
Regional Tariffs?
Axios reports U.S. may impose regional tariffs as trade deadlines loom, Bessent says
The U.S. may impose some tariffs by region rather than on individual countries, as time runs out to negotiate a laundry list of trade deals globally, Treasury Secretary Scott Bessent said Sunday.
Bessent, in an interview on CNN’s “State of the Union” Sunday, said the U.S. was focused primarily on making deals with a short list of key partners.
“My other sense is that we will do a lot of regional deals — this is the rate for Central America, this is the rate for this part of Africa — but what we are focused on for right now is the 18 important trading relationships,” Bessent said.
So Bessent proposes taking a bunch of countries and lumping them together as if that solves anything.
What it will do is cause anger from countries with less of a trade deficit with the US than the rest of the group.
Yahoo!Finance noted “Trump said the U.S. can’t negotiate with all the countries that were hit with tariffs, so some trading partners will find out in a letter in two or three weeks what rate they will face.”
This is what constitutes agreeing to a good deal.
Recap
- Pete Navarro said there would be 90 deals in 90 days. We are roughly half way.
- On April 25, Trump Trump told Time Magazine “I’ve made 200 deals.” When questioned, Trump answered “100%”.
- Bessent says that with “a few exceptions, the countries are coming with very good proposals for us.”
- Despite having 200 deals, Bessent is going to utilize “a lot of regional deals.”
On April 25, I noted Trump Tells Time Magazine He Has Made 200 Deals Already, Refused to Name Any
Time (in bold): Your trade adviser, Peter Navarro, says 90 deals in 90 days is possible. We’re now 13 days into the point from when you lifted the reciprocal, the discounted reciprocal tariffs. There’s zero deals so far. Why is that?
Trump (regular font): No, there’s many deals.
When are they going to be announced?
You have to understand, I’m dealing with all the companies, very friendly countries. We’re meeting with China. We’re doing fine with everybody. But ultimately, I’ve made all the deals.
Not one has been announced yet. When are you going to announce them?
I’ve made 200 deals.
You’ve made 200 deals?
100%.
I’m just curious, why don’t you announce these deals that you’ve solidified?
I would say, over the next three to four weeks, and we’re finished, by the way.
You’re finished?
We’ll be finished.
Oh, you will be finished in three to four weeks.
I’ll be finished. Now, some countries may come back and ask for an adjustment, and I’ll consider that, but I’ll basically be, with great knowledge, setting—ready? We’re a department store, a giant department store, the biggest department store in history.
Also see 90 Trade Deals in 90 Days, a Midpoint Update, Where Are We?
How Deals Are Made in Trumperland
Alice: It take two parties to make a deal.
King Deal: Nonsense. A deal is what I say it it. I once made 200 fair deals in an hour.
Deals Announced by Letter
When Trump sends out those letters in a few weeks, everyone automatically signs. That’s how you get 200 deals done in an hour.