‘The terms of the agreement that the U.S. has proposed are truly terrible’: Trump’s 90-day trade deal promise crashes and burns

President Donald Trump’s big promise to secure more than 50 trade deals within 90 days has hit significant roadblocks as the July deadline approaches. Despite reaching a preliminary agreement with the United Kingdom earlier this month, the administration is struggling to make substantial progress with other major trading partners.

The White House continues to promote ongoing negotiations with more than a dozen countries, but foreign officials, U.S. business leaders, and sources close to the talks reveal mounting disagreements. Even nations eager to establish trade agreements, particularly in Asia, are finding the process more complex and time-consuming than initially anticipated.

Vietnam, facing a potential 46 percent tariff that could severely impact its exports to the U.S., has sent a trade delegation to Washington this week, as per Politico. However, the outlook appears grim, with one source familiar with the negotiations stating, “The terms of the agreement that the U.S. has proposed are truly terrible.” While a preliminary agreement might be reached before the July 8 deadline, a comprehensive deal remains uncertain.

Asian nations prove resistant to U.S. trade proposals

India, initially projected to reach a quick agreement with the U.S., is now engaged in “hard negotiations” that could extend well into June. Sources indicate that any potential deal would likely serve as a framework for future negotiations rather than a comprehensive agreement.

Japan’s position has become particularly challenging, with Tokyo demanding the removal of all U.S.-imposed tariffs, including the baseline 10 percent worldwide import duty. The situation is further complicated by upcoming Japanese upper chamber elections in July, with Prime Minister Shigeru Ishiba’s ruling party facing poor polling numbers.

The administration’s response to these challenges has been mixed. While Trump acknowledges the difficulty of meeting with “150 countries that want to make a deal,” Treasury Secretary Scott Bessent has suggested implementing regional tariff rates or reverting to higher April 2 rates for countries not negotiating “in good faith.”

National Economic Council Director Kevin Hassett maintains optimism, stating on Fox Business Network that he is “highly confident” about securing new deals in the coming weeks. However, experts like Scott Lincicome from the Cato Institute note that while no one expected 90 deals in 90 days, progress has been slower than anticipated, suggesting that “the wind has come out of the sails” of the trade deal push.

The uncertainty surrounding these negotiations continues to impact consumer sentiment, business investments, and economic growth, with no clear resolution in sight as the July 9 deadline for reciprocal tariffs approaches.