Today, Explained The deal with Trump's deals
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Aug 5, 2025 
Brendan Murray, Global Trade Editor at Bloomberg, and Kimberly Adams, Senior Washington correspondent from Marketplace, dive into the tumultuous realm of Trump's trade deals. They discuss the gap between Trump's promises of economic prosperity and the reality shown by new data. The complex international trade negotiations, along with the significant impact of tariffs on Wall Street and American manufacturing jobs, are explored. The episode also highlights concerns over the integrity of labor statistics and the broader implications for trust in economic reporting.
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Trump's Trade Deals Context
- Trump negotiated trade deals with major partners like the European Union, Japan, South Korea, and the UK to avoid high tariffs.
- These partners accepted the deals as the "least worst" option to prevent trade disruptions and economic damage.
Trade Retaliation from Canada and China
- Only Canada and China have retaliated with tariffs against the US under Trump's trade strategy.
- Tensions with Canada increased due to high tariffs on goods outside the USMCA agreement.
Tariffs as Foreign Policy Tools
- Trump uses tariffs as diplomatic tools beyond trade, targeting Brazil and India over political and geopolitical issues.
- This merges economic policy with foreign policy, complicating traditional trade relationships.