Uh-oh.
The Wall Street Journal is pouring some cold water on the earlier headlines:
- The announcement, which Trump teased late Wednesday on Truth Social as being with a “big, and highly respected country,” is expected to be a framework of an announcement with tariff adjustments.
- “This announcement is likely just an agreement to start the negotiations, identifying a framework of issues to be discussed in the coming months,” said international trade attorney Tim Brightbill. “We suspect that tariff rates, non-tariff barriers, and digital trade are all on the list—and there are difficult issues to address on all of these.”
Bolding is mine.
Earlier:
- Trump spruiks a major trade deal announcement Thursday morning in Washington
- Pavlov’s dog takes US equities higher on Trump’s “major trade deal” teaser announcement
- New York Times says Trump will announce a trade deal with the UK
This article was written by Eamonn Sheridan at www.forexlive.com.