Trump's ambitious trade negotiation promises back in April resulted in only two agreements, with the UK and Vietnam. The administration aimed for rapid progress but failed to achieve the intended 90 deals within 90 days. Global uncertainty grew as businesses postponed investments due to unknown trade rules, reflecting a pattern of threats and subsequent deadline extensions by Trump. The negotiating approach was deemed impractical, with Trump acknowledging the challenge of dealing with numerous countries simultaneously, leading to criticism and a lack of substantial agreements.
Trump and his team "don't have the deals they want. So they're piling on the threats." Negotiating simultaneously with every country on earth was always an impossible task.
The deal drought represents a collision with reality. Trump is extending the deadline for negotiations to Aug. 1 and tinkering with his threatened tariffs.
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