President Trump says a new trade agreement is coming soon, following weeks of global tension and price spikes caused by his sudden tariff hikes.
A Mysterious Deal on the Horizon
President Donald Trump has surprised the world with news of an upcoming trade deal. Without naming the country, he described it as a “BIG, AND HIGHLY RESPECTED, COUNTRY” and said he would announce details at 10 a.m. ET in the Oval Office.
The reveal comes after weeks of chaos following Trump’s new tariffs on imports, which caused markets to dip and left countries scrambling for answers.
What Caused the Panic?
In April, Trump imposed a 10% tariff on all imports. On top of that, he introduced “reciprocal tariffs” that hit countries running trade surpluses with the U.S. The sharp rise in import taxes raised prices for many goods and sparked fear of inflation and shortages.
Facing backlash, the administration paused the tariffs for 90 days—except for China. Goods from China now face up to 145% tariffs, essentially freezing trade between the two countries.
Countries Push Back
World leaders didn’t stay quiet. Canadian Prime Minister Mark Carney asked for a fresh look at the USMCA agreement. European countries slammed the move, calling it bad for business. China demanded a complete rollback of the tariffs to continue talks.
Despite the uproar, the U.S. has been talking to several nations like Japan, India, South Korea, Vietnam, and the U.K. to settle new terms of trade.
Talks with China: Still Tense
Talks between the U.S. and China are expected to happen soon. U.S. officials Scott Bessent and Jamieson Greer are scheduled to meet China’s top trade official, He Lifeng, in Switzerland.
Trump claimed, “They asked for the meeting, not us,” even though China’s Commerce Ministry said the opposite. Trump also stated he won’t lower tariffs to get China to the table.
What’s Next?
While many await the details of this secret trade deal, investors and businesses are hoping it will ease some of the economic stress caused by the tariffs. For now, markets remain cautious, watching Trump’s next move closely.
Whether this deal will bring real relief—or more surprises—remains to be seen.
