Trade

Trump’s ‘Greatest Deal’ Could Be Permanently Delayed

JM Ashby
Written by JM Ashby

You know, I think we all saw and expected that "phase one" of Trump's "greatest and biggest deal ever" would be delayed for at least some period of time, but I had personally not given much thought to the idea that there will never be a "phase one."

Trump is at the NATO summit in London where he was suppose to sign his 'greatest deal' with Chinese President Xi Jinping, but Trump isn't signing any deals; he's saying it could be delayed until after the 2020 election.

"In some ways, I like the idea of waiting until after the election for the China deal, but they want to make a deal now and we will see whether or not the deal is going to be right," Trump told reporters in London, where he is attending the NATO summit. The U.S. general election is set to take place next November. [..]

When asked if he had a deadline for the deal, Trump added: "I have no deadline, no.'

It's impossible to say how much of Trump's commentary is based on his own desire to keep his "weapons" or tariffs so he can pull them out during the election if he needs a big distraction and how much is based on his complete inability to make actual deals.

Trump probably thinks it's better to claim that he prefers a long delay rather than admit that he actually sucks at making deals.

In any case, the market lost a significant amount of value this morning because much of that value was only added because of happy talk from the White House about a deal. It's days like today that I feel like our entire financial system is steered by gullible plebs who move billions of dollars based on little more than the words of Larry fuckin' Kudlow.

I suppose that's not just a feeling; it's our reality.

Trump could still sign a small deal of some description with Xi Jinping in the coming weeks or months, but that seems less likely with each passing day, doesn't it?

  • gescove

    “It’s days like today that I feel like our entire financial system is steered by gullible plebs who move billions of dollars based on little more than the words of Larry fuckin’ Kudlow.” You are not alone in that feeling. The proof is in the market swings based on nothing more than the nonsense that dribbles out of Kuldow’s and Trump’s pieholes. The response redefines gullible downward.

  • muselet

    China has been saying for some time that it will wait until after the 2020 election to negotiate in earnest.

    This is Donald Trump’s trademark I’m-rubber-you’re-glue deflection and bluster. He wants to make a deal, but China won’t give him all he wants so he’ll pretend it’s really China that wants a deal.

    It’s nothing new, really. And it’s the sign of a terrible negotiator.

    –alopecia