Today, Explained I was told there would be deals
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Jul 9, 2025 
In this discussion, Amy Williams, a U.S. trade correspondent for the Financial Times, and Talman Joseph Smith, an Economics reporter for The New York Times, dive into the complexities of recent U.S. trade policies. They unpack the stalled tariff deals amid rising economic uncertainty and analyze the challenges countries face in negotiations. The duo also explores the implications of tariffs on labor markets, inflation, and the resilience of corporate America, revealing how businesses navigate political dynamics while grappling with post-COVID economic realities.
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Few Tariff Deals Made
- President Trump promised 90 tariff deals in 90 days but only has about three modest arrangements so far.
- These deals are far from full free trade agreements and mostly look like temporary ceasefires or ongoing talks.
Trade Talks Face Political Hurdles
- Other countries resist Trump's tariff demands because they touch on sovereign policies like tax laws.
- Politically sensitive issues, such as rice imports for Japan, also hinder trade negotiations.
Tariff Threats Extend Deadline
- Trump’s administration is sending letters threatening tariffs starting August 1st, essentially extending deadlines.
- Countries receiving these letters are still trying to negotiate deals, not rejecting talks outright.