Washington, D.C. — President Trump is poised to unveil his first significant trade agreement since imposing steep tariffs last month, a move that sent shockwaves through the financial markets. In a social media post late Wednesday, he hinted at the announcement, which is scheduled for 10 a.m. ET in the Oval Office.
While Trump has yet to disclose the name of the involved country or specifics of the agreement, he described it as involving “a BIG, AND HIGHLY RESPECTED COUNTRY.” Details will likely be finalized in the weeks to come, as negotiations for such deals typically require extensive discussions. Experts suggest that the arrangement may serve more as an initial framework than a fully fleshed-out agreement.
The backdrop for this announcement is significant. Following the implementation of a 10% tariff on all imported goods on April 2, the stock markets fell sharply, prompting a temporary pause in further tariff increases after 90 days. The exception remains China, where exorbitant tariffs—up to 145%—have effectively halted imports.
Economists have cautioned that these tariffs could result in product shortages and increased consumer prices. In light of this, administration officials assert that the tariffs have successfully brought countries, such as Japan, South Korea, and the United Kingdom, back to the negotiating table to address various trade matters.
Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer are expected to meet with Chinese vice premier He Lifeng in Switzerland on Saturday, marking another step in ongoing discussions with China. Since taking office, Trump has also imposed tariffs on sectors including auto manufacturing, steel, and aluminum, and has hinted at further tariffs on movies, copper, lumber, pharmaceuticals, and semiconductors.
The administration’s approach to trade has been characterized by a willingness to apply pressure. Many analysts are observing the long-term effects of these policies, considering both the geopolitical implications and potential disruptions to domestic markets.
As the announcement approaches, analysts will be closely watching reactions from both domestic industries and international partners. The deal’s reception will be pivotal in shaping the economic landscape leading into future negotiations and trade policies.