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Straight Arrow News
President Donald Trump is teasing a May 8 announcement “concerning a MAJOR TRADE DEAL” as his administration faces questions about when trade talks will produce results.
Trump didn’t offer any details about the deal, other than writing in all capital letters that it involves a “big, and highly respected, country.”
Trump imposed reciprocal tariffs on a slew of countries April 3 but later paused them for 90 days, saying countries were eager to negotiate trade deals. Administration officials repeatedly have said they are close to making deals, but none have been announced yet.
Trump commented about the intense interest in the trade deals during a May 6 meeting with the prime minister of Canada.
“Everyone says: ‘When, when, when are you going to sign deals?” Trump said. “We don’t have to sign deals. We could sign 25 deals right now . . . if we wanted. We don’t have to sign deals. They have to sign deals with us. They want a piece of our market.”
The president expressed frustration with the constant questions.
“I wish they’d stop asking how many deals are you signing this week,” he said.
Treasury Secretary Scott Bessent told lawmakers during a May 6 committee hearing that deals could be signed soon.
“I would think that perhaps as early as this week we will be announcing trade deals with some of our largest trading partners,” Bessent said.
There are 18 countries that Bessent described as “major trading partners.” He said negotiations have begun with all of them except China, but talks between U.S. and Chinese officials are now scheduled.
Bessent and U.S. Trade Representative Jamieson Greer are traveling to Switzerland on May 8, where they met with China’s “lead representative on economic matters.”
Contributing: Reuters