Trump shifts focus from trade deals to potential tariffs with countries like India, South Korea, Japan

From CNBC: 2025-05-06 14:11:00

President Donald Trump stated that the U.S. doesn’t need to sign trade deals with partners, contradicting his team’s claims. Despite ongoing talks, no formal agreements have been announced. Trump expressed frustration at the pressure to show progress, promising potential deals with India, South Korea, and Japan, while blaming aides for overpromising.

Trump’s decision to deprioritize trade deals shocked after Treasury Secretary Scott Bessent claimed the U.S. was close to deals. The President hinted at rolling out agreements soon but criticized aides for raising expectations. The stock market reacted negatively to Trump’s remarks, as investors await concrete details on potential trade agreements.

Investors and business leaders are anxious for the Trump administration to secure bilateral agreements with key trading partners before tariffs impact the economy. Amid promises of imminent deals, Trump emphasized the importance of lowering prices for consumers. The lack of clarity on specific agreements continues to fuel uncertainty in the market.

Read more: Trump shifts tariff goals from trade deals