India has outpaced the United States in trade deal-making, causing unease in Washington as the Trump administration’s tariff-focused strategy struggles to yield outcomes. Henrietta Treyz, co-founder of Veda Partners, highlighted that India has sealed twice as many deals as Donald Trump this year, leading to frustration among US lawmakers over the administration’s failure to translate tough trade talk into tangible agreements. Despite promises of rapid progress in trade, the administration has only managed to secure two deals in 10 months, with Cambodia and Malaysia, while progress on the South Korea deal remains stagnant.
The situation is worrisome for US lawmakers, given the significant trade relations existing before the current administration took office. Treyz pointed out that before Trump’s term, 96% of trade with South Korea was covered by a free trade agreement with zero tariffs. However, the administration’s reliance on tariffs as a bargaining tool has not resulted in breakthroughs with key partners like the EU, Japan, and South Korea. Moreover, the use of tariffs has led to growing domestic opposition, with 50% of Americans expressing a desire for the Supreme Court to overturn them.
The resistance to tariffs has complicated the administration’s economic narrative, with concerns rising about the affordability of goods due to the lack of progress in trade deals. Treyz emphasized that the White House is now under pressure to address the political repercussions of its trade policies, especially as President Trump aims to reassure voters about the economy. The stalled trade progress, coupled with the impact of tariffs, is negatively affecting public sentiment and eroding support for the administration.
