President Trump teases ‘major trade deal’ Thursday
CNN
President Donald Trump teased a significant trade announcement to be announced Thursday, yet another sign of some possible relief from historically high tariffs that have threatened serious damage to the US and global economies.
President Donald Trump teased a significant trade announcement to be announced Thursday, yet another sign of some possible relief from historically high tariffs that have threatened serious damage to the US and global economies. “Big News Conference tomorrow morning at 10:00 A.M., The Oval Office, concerning a MAJOR TRADE DEAL WITH REPRESENTATIVES OF A BIG, AND HIGHLY RESPECTED, COUNTRY. THE FIRST OF MANY!!!” Trump posted Wednesday night on Truth Social. Trump didn’t specify which country, but his administration has suggested it is in active negotiations with India, the United Kingdom, South Korea and Japan. Trump’s top trade adviser, Peter Navarro, told CNN’s Kaitlan Collins Tuesday that he suspected the UK may be the first country to sign a trade agreement with the United States. “I don’t know if it’s going to be the UK first or India first, it’s — we’ve got a little twist in the in this India story, so that might slow things down there, but I can assure the American people that there will be deals, and they will be very good deals for the American people,” Navarro said. The Financial Times on Tuesday reported that a UK trade deal could be signed this week and could exempt the United States from some non-tariff trade barriers, including the UK’s 2% digital services tax. In exchange, the United States may ease the tariff burden on the UK, perhaps reducing or exempting the country from 25% tariffs on aluminum, steel and autos, the FT reported. For weeks, Trump officials have said they are talking to more than a dozen countries and are nearing a deal, but none have been announced so far. Trump has frequently said he is in no rush to sign a deal, claiming that countries have been “ripping off” America for years and the high tariffs the United States has imposed will help balance trade.
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