President Trump speaks to journalists from the Oval Office on May 7, 2025.
Jim Watson / AFP
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Jim Watson / AFP
President Trump on Thursday is expected to announce his first trade agreement since his steep prices last month made a tour of the stock markets, teasing the announcement in an article on social networks on Wednesday evening.
Trump did not reveal the name of the country, nor the terms, affirming only that it was “a large and very respected country” and that the representatives would join him for the announcement at 10:00 a.m. at the Oval Office. The White House refused to comment.
Several months of negotiations are normally needed to eliminate trade agreements. Trump agreements could look more like executives, with details to be determined.
Its administration has embarked on a burst of talks with business partners since April 2, when Trump has deployed a 10% rate on all imported products as well as what he called “reciprocal prices” – steep tariff walls aimed at punishing countries for their commercial practices and volumes, and attracting manufacturing to America.
After the markets plunged, Trump withdrew, a break in break for 90 days. The only exception was China, where the 145% prices actually stopped shipping. Economists have warned that prices could cause shortages of certain goods and increase consumer prices for others.
Trump administration officials said its measures brought the countries to the table to talk about a range of commercial issues, including Japan, South Korea, the United Kingdom, Vietnam and India. On Saturday, the secretary of the Treasury Scott Bessent and the commercial representative Jamieson Greer should meet He Lifeng in China in Switzerland.
Since his entry into office, Trump has slapped sectoral prices on imports of cars, steel and aluminum, and has further threatened films, copper, wood, pharmaceutical products and semiconductors.
