Is Trump any closer now to his trade goals?

Donald Trump announced a massive tariff plan last week that would have upended the global economic order as well as long-established trading relationships with America's allies.

But that plan - or at least a significant part of it - is on ice after the president suspended higher tariffs on most countries for 90 days while leaning into a trade war with China.

So with this partial reversal, is Trump any closer to realising his goals on trade? Here's a quick look at five of his key ambitions and where they now stand.

) Better trade deals
What Trump said: For decades, our country has been looted, pillaged, and plundered by nations near and far, both friend and foe alike

Trump's original trade plan packed a big punch that landed around the world, with a flat 10% baseline tariff on everyone (including some uninhabited islands) and additional "reciprocal" tariffs on the 60 counties that he said were the worst offenders.

It sent allies and adversaries scrambling, as they stared down the prospect of a debilitating blow to their economies.

The White House has been quick to boast about all the world leaders who have reached out to the president to make deals and offer trade concessions – "more than 75", according to Treasury Secretary Scott Bessent.

Although the administration hasn't released a list of all the countries that Trump said on Tuesday were "kissing my ass" and promising to do anything, the US has announced it is in negotiations with South Korea and Japan, among others.

The takeaway: America's trading partners have 90 days to strike some sort of agreement with Trump, and the clock is ticking. But the fact that talks are happening indicates that the president has a good chance of getting something for his efforts.

Is Trump any closer now to his trade goals?
3 hours ago
Anthony Zurcher
North America correspondent in Washington•@awzurcher

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EPA Image shows Donald Trump during a cabinet meeting on ThursdayEPA
Donald Trump announced a massive tariff plan last week that would have upended the global economic order as well as long-established trading relationships with America's allies.

But that plan - or at least a significant part of it - is on ice after the president suspended higher tariffs on most countries for 90 days while leaning into a trade war with China.

So with this partial reversal, is Trump any closer to realising his goals on trade? Here's a quick look at five of his key ambitions and where they now stand.

⏩1) Better trade deals
What Trump said: For decades, our country has been looted, pillaged, and plundered by nations near and far, both friend and foe alike

Trump's original trade plan packed a big punch that landed around the world, with a flat 10% baseline tariff on everyone (including some uninhabited islands) and additional "reciprocal" tariffs on the 60 counties that he said were the worst offenders.

It sent allies and adversaries scrambling, as they stared down the prospect of a debilitating blow to their economies.

The White House has been quick to boast about all the world leaders who have reached out to the president to make deals and offer trade concessions – "more than 75", according to Treasury Secretary Scott Bessent.

Although the administration hasn't released a list of all the countries that Trump said on Tuesday were "kissing my ass" and promising to do anything, the US has announced it is in negotiations with South Korea and Japan, among others.

The takeaway: America's trading partners have 90 days to strike some sort of agreement with Trump, and the clock is ticking. But the fact that talks are happening indicates that the president has a good chance of getting something for his efforts.

What does the tariff pause mean for global trade?
⏩2) Boosting American industry
What Trump said: Jobs and factories will come roaring back into our country…We will supercharge our domestic industrial base.

Trump has said for decades that tariffs are an effective way of rebuilding America's manufacturing base by shielding it from unfair foreign competition. While some factories may be able to increase production in current facilities, more substantive efforts take time. And for business leaders to pull the trigger on "reshoring" their production lines and investing in new US factories, they will want to know that the rules of the game are relatively stable.

The president's on-again, off-again tariff moves over the past week are inherently unstable, however. For the moment, it's difficult to predict where the final tariff levels will land and which industries will receive the greatest protections. It could be auto manufacturers and steel producers today, and high-tech electronics companies tomorrow.

The takeaway: When tariffs are applied and removed seemingly at the president's whim, it's much more likely that companies – both in the US and abroad – will hunker down and wait for the dust to settle before making any big commitments.

⏩3) Facing off with China
What Trump said: I have great respect for President Xi of China, great respect for China, but they were taking tremendous advantage of us.

After Trump's tariff about-face on Wednesday, several White House officials – including Treasury Secretary Bessent - were quick to say that Trump's goal was to drop the hammer on the real villain, China.

"They are the biggest source of the US trade problems," Bessent told reporters, "and indeed they are the problem for the rest of the world.

If Trump wanted a battle of wills with China, testing each side's tolerance for economic and political pain, he got one – even if the president and his aides have hinted that they are looking for an exit ramp.

On Wednesday, Trump said that he blamed past US leaders, not China, for the current trade dispute. The prior day, White House press secretary Karoline Leavitt said the president would be "incredibly gracious" if China reaches out to make a deal.

The takeaway: Even if this showdown is one Trump wants, picking a fight with the second-largest economy in the world, with military power to match, comes at enormous risk. And along the way America may have alienated the allies it needs most in such a confrontation.