What's happened
As of April 27, 2025, the Trump administration faces significant hurdles in finalizing trade agreements amid a 90-day pause on tariffs. Experts warn that achieving meaningful deals with over 75 countries is unlikely, with economic implications looming for American businesses and consumers.
What's behind the headline?
Key Challenges Ahead
- Complexity of Trade Agreements: Traditional trade deals often take months or years to negotiate, making the administration's goal of 90 deals in 90 days seem overly ambitious.
- Diverse Trade Profiles: Each trading partner has unique economic strengths and weaknesses, complicating negotiations. Experts like Willy C. Shih emphasize the need for detailed understanding of interdependencies.
- Political Pressures: The administration faces pressure to deliver results quickly, which may lead to suboptimal agreements. As Scott Lincicome notes, the urgency could hinder the ability to negotiate favorable terms.
- Market Reactions: The ongoing trade tensions have already impacted the stock market, with significant volatility observed. The S&P 500 has dropped 10% since January 20, 2025, indicating investor concerns about the economic fallout.
Future Outlook
- Potential for Delays: With no agreements finalized yet, the likelihood of achieving meaningful deals before the July deadline appears slim. The administration may need to reassess its approach to avoid further economic disruption.
- Consumer Impact: If tariffs remain in place, American consumers could face higher prices and limited product availability, which may lead to political backlash against the administration.
What the papers say
According to Business Insider UK, trade experts express skepticism about the Trump administration's ability to finalize numerous trade deals within the 90-day pause on tariffs, with Willy C. Shih stating, "There's no way" meaningful agreements can be reached in such a short time. The New York Times highlights the chaos caused by tariffs, noting that some U.S. businesses are facing bankruptcy due to the trade barriers. Meanwhile, the NY Post reports that National Economic Council Director Kevin Hassett remains optimistic, claiming rapid progress is being made. However, the Independent points out that despite claims of progress, no new trade agreements have been announced, raising questions about the administration's timeline and effectiveness.
How we got here
The Trump administration announced a 90-day pause on tariffs on April 9, 2025, aiming to negotiate trade deals with multiple countries. However, experts highlight the complexity and time required for such agreements, raising concerns about the feasibility of achieving substantial outcomes within the set timeframe.
Go deeper
- What are the implications of the trade deals for consumers?
- How are businesses reacting to the current trade situation?
- What countries are involved in the negotiations?
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Donald John Trump is an American politician, media personality, and businessman who served as the 45th president of the United States from 2017 to 2021.
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China, officially the People's Republic of China, is a country in East Asia. It is the world's most populous country, with a population of around 1.4 billion in 2019.
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The United States of America, commonly known as the United States or America, is a country mostly located in central North America, between Canada and Mexico.
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South Korea, officially the Republic of Korea, is a country in East Asia, constituting the southern part of the Korean Peninsula and sharing a land border with North Korea.
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