Past experience and current reality should reduce optimism over a prospective trade deal between the world’s two largest national economies. Also, even if prohibitively steep import tariffs go, the ‘bullwhip effect’ on supply chains will play out.

The tariff situation today under President Trump is messy, charged with challenge and opportunity for farmers.

Journal Editorial Report: Trump strikes a deal with the United Kingdom. Officials in rural Texas are accused of paying campaign worker who told elderly people how to vote: docs How much cash to keep in your checking account, according to money experts Archeologists think they solved a 4,500-year-old Stonehenge mystery

WASHINGTON (Reuters) -Donald Trump's tariff blitz is yielding some initial deals, including a 90-day pause in sky-high U.S. and Chinese duties and a limited trade pact with Britain, but the U.S. president is far from rebalancing global commerce flows, trade experts and analysts said.

U.S., U.K. unveil trade framework  Trump urges Congress to raise taxes on wealthy American Pope Leo XIV: “Build bridges” Ukraine ratifies U.S. minerals deal President

Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer told reporters that more details would be provided on Monday.

President Donald Trump claimed Tuesday that the U.S. doesn’t “have to sign” any trade deals, inadvertently admitting that his administration hasn’t made any progress during the 90-day pause on his disastrous tariffs.

In a wide-ranging interview, Stephen Miran, the chair of President Trump’s Council of Economic Advisers, said, “Volatility doesn’t necessarily mean anything greater for the long term.”

A press conference will be held this morning in Washington DC to announce the details of the US-UK trade deal plan.

(This story was corrected to reflect, in the headline, that Rabobank maintains its 12-month forecast for the USD/JPY yen pair at 140.00).

With his tariff 'deals,' President Trump leaves international trade relationships even more unsettled than before.