President Donald Trump is touting his new trade deal with the United Kingdom as a major breakthrough in his push to secure fair trade arrangements for the United States. But New York Times reporter Maggie Haberman is skeptical that it's really what he's making it out to be, and thinks it was more of a message to other countries than any meaningful progress for world trade.
Already, the plan has come under criticism from other observers, who have noted that Trump effectively cut a big break to luxury Rolls-Royce automobile imports while forcing toy manufacturers to hike prices on dolls for children.
"So Trump has one trade deal done, ish," said anchor Jake Tapper to Haberman. "He loves to announce things. He still has dozens and dozens more deals left to get done today. He said he's working on three of them right now. What sort of headspace is he in? How much pressure did he feel like he needed? How much pressure did he feel to make this call and announce something, given the fact that they've been saying for more than a week that they're right — they're about to announce something."
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"Look, in terms of headspace, he's very happy with what they put out today," said Haberman.
However, she continued, "It is notable, as you said, it has been a while since the pause went into effect, and they were talking about trade deals coming quickly. The big question is going to be the China talks this weekend. But they are feeling as if this is a signal to other countries that there will be relief for them on tariffs if they forge some kind of a deal."
"This was low-hanging fruit," Haberman added. "This was, I would say, actually something the Biden administration could have had in terms of a trade deal with the U.K., and they just didn't want to for a variety of reasons. The U.K. has been eager for a deal, too. There is not a trade deficit with the U.K. It has a trade surplus. So a little different than the other countries in question here. But this is good news for the administration, as they are trying to find a path to lower some of these tariffs on other countries."
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