The article discusses the Trump administration's ambitious goal of forging numerous individual trade deals within 11 weeks, a task deemed highly challenging by trade experts. This comes after the implementation of tariffs that have sown global economic chaos.
President Trump's strategy involves using tariffs as leverage to secure quick agreements, with promises of "90 deals in 90 days" made by his trade advisor. However, this approach has created significant economic disruption, particularly for small businesses reliant on Chinese imports.
The escalating trade war with China, marked by substantial tariffs, has brought some trade to a standstill. The article highlights potential bankruptcies amongst US businesses and expresses concerns about the stock market volatility. While Trump stated a desire to strike a deal with China, he made it contingent on China's actions.
Some officials within the administration acknowledge the unsustainability of the situation with China and are exploring strategies to mitigate the tariff impacts. The article also points out concerns about the negative effect on the stock market. The S&P 500's 10% drop since Trump's inauguration is cited as a significant concern.