US President Donald Trump has stirred anticipation in global markets by teasing the announcement of a major new trade deal with what he described as a “big, and highly respected, country.” The reveal is expected at 10:00 AM Thursday in the Oval Office, where representatives from the unnamed country will reportedly be present.
“The First of Many”
Taking to Truth Social, Trump declared, “Big News Conference tomorrow morning at 10:00 A.M., The Oval Office, concerning a MAJOR TRADE DEAL WITH REPRESENTATIVES OF A BIG, AND HIGHLY RESPECTED, COUNTRY. THE FIRST OF MANY!!!”
The announcement comes amid a volatile trade landscape shaped by Trump’s sweeping tariffs on dozens of nations. His policy is part of a broader strategy to renegotiate trade pacts in America’s favor.
India, Japan, South Korea Among Frontrunners
Although Trump did not specify the country involved in the Thursday deal, administration insiders have previously hinted at active negotiations with India, Japan, and South Korea. Each nation is seen as a key economic and strategic partner in the Indo-Pacific region. Nikkei Asia reports that Japan and South Korea have been in backchannel discussions with US trade officials for weeks.
The trade strategy hinges on a 90-day negotiation window, which began on April 9 following a brief suspension of tariffs imposed on April 7. Without successful agreements, tariffs as high as 50% could be reinstated by July 8, according to this CNBC report.
Tariff Tactics: Threat or Leverage?
Trump has defended his aggressive use of tariffs as a necessary tool to force better trade terms for the United States. “I’m telling you, these countries are calling us up, kissing my a**,” Trump bragged last month, in comments widely reported by Bloomberg.
While Trump’s rhetoric appeals to his base, economists and international observers warn of adverse side effects. Rising costs for American consumers and businesses could further strain the domestic economy already showing signs of slowdown, according to the Wall Street Journal.
Behind the Curtain: A Race Against the Clock
Trump’s trade adviser Peter Navarro previously told NBC News that as many as “90 deals in 90 days” could be in the pipeline. However, that optimism has since cooled. With less than 60 days left in the negotiation window, only a handful of deals appear near finalization.
Complicating matters is the frozen relationship with China, America’s largest trading partner. The Trump administration’s 145% tariff on Chinese imports has brought bilateral dialogue to a halt, as confirmed by the US Trade Representative’s Office.
What to Watch
As anticipation builds for Thursday’s announcement, experts are watching closely to see whether Trump’s deal is with India, Japan, or another key partner. The details will shape not just US trade relations but also global supply chains and diplomatic alignments heading into a contentious election year.
With Trump vowing this is just “the first of many,” businesses and governments worldwide will be closely monitoring the next moves from the Oval Office.