Why Team Trump is struggling to close face-saving trade deals

Team Trump is looking for a face-saving off-ramp in its global trade war, and they’re ready to announce a deal-in-kind with at least one trading partner, On The Money has learned.How that manifests itself is unclear, but my sources are led to believe that actual deals — i.e.signed agreements even with the most friendly of trading partners caught up in the Trump maelstrom – are probably not happening anytime soon.What is more likely is a series of public announcements coming from Treasury Secretary Scott Bessent, and possibly the president himself, indicating broad outlines of trade pacts that both sides can live with.First out of the box appears to be India, the White House has signaled.

In fact, my “X” posting on India that reported this progress immediately reversed stock market losses at the open and turned the Dow green for the rest of the day. Japan could be next followed by the UK, Australia and even the EU.These will involve agreed upon goals, and issues that have been addressed and resolved as well as a deadline for the deals, my sources say.What could disrupt the forward momentum? Trade partners are complaining to people on Wall Street that the US negotiating team is often obtuse in what it is  asking. They sometimes don’t really know exactly what the White House wants, sources said.The nebulousness of the ask is what stalled the Japanese negotiations last week, according to one Wall Street executive with contacts inside the Japanese government.

The same thing could happen to the pending India deal.But with those out of the way, the administration can focus on China – the biggest deal yet to be had – and among the most difficult to hash out.How and when that happens is still anyone’s guess, though the administration is now signaling to the Mainland it wants to negotiate, Wall Street executives say.Yes, what looks like a cave often is one.

This cave is based on economic and market realities of taking a major part of the economy in suc...