Donald Trump’s tariff-heavy trade strategy is crumbling, with India eclipsing the US in deal-making prowess this year—a development that’s sparking alarm bells in Washington. Veda Partners’ Henrietta Trese told CNBC that India has doubled America’s trade agreements, underscoring the yawning gap between bluster and results.
Lawmakers are increasingly vocal about their disappointment. Recalling unfulfilled vows from Treasury’s Scott Bessent and USTR Jamison Greer for 90 deals in 90 days, Trese revealed the stark truth: just two pacts with Cambodia and Malaysia after ten months. The frozen South Korea negotiations sting especially, given the prior near-total tariff elimination on bilateral trade.
Brandishing tariffs against the EU, Japan, and South Korea has produced no victories, Trese observed. Compounding this, American voters are turning against the policy—50% reportedly back Supreme Court action to dismantle it—muddling the president’s pro-growth pitch.
Politically, the stakes are high. Trade policy is denting Trump’s ratings and Republican momentum nationwide. Trese cautioned that ignoring the stalled growth’s electoral impact, even with an ‘America sells first’ mantra, is untenable. The administration’s challenge: pivot before economic isolationism costs dearly at the polls.