The Trump White House’s reliance on tariffs as a trade weapon has spectacularly misfired, allowing India to vault past the US in forging international agreements this year. In a CNBC appearance, Henrietta Trese of Veda Partners disclosed that Washington’s deal count is half of New Delhi’s, igniting congressional consternation.
Trese detailed the letdown: despite ambitious timelines touted by Scott Bessent and Jamison Greer, the US notched wins only with Cambodia and Malaysia over ten months. South Korea talks remain in limbo, a far cry from the comprehensive zero-tariff framework that once defined the partnership.
Efforts to pressure the EU, Japan, and others via tariffs have floundered, yielding no concessions. Public opposition is surging, with half of Americans eager for judicial relief from the levies, which are now poisoning the well for new pacts and tarnishing economic optimism.
The fallout threatens Republican electoral hopes. Trese stressed that trade inertia is sapping presidential popularity and party standings. Though the ‘America first sales’ pitch persists, the absence of momentum is breeding doubt. Urgent recalibration is needed to restore faith in US trade leadership.