Showman Trump can still bring down the curtain on a boffo trade spectacle | Opinion
After another skittish day on Wall Street where early gains were wiped out by growing pessimism, global economies are seeing the first signs of real-world impact from Donald Trump’s trade offensive. You can almost hear Trump say “You’re fired” as Jaguar Land Rover and Audi paused shipments of new cars to the United States, Car factories in Canada and Mexico shut down and American parts suppliers for those factories faced tough decisions.
But the stakes are much higher now than in an “Apprentice” episode as economists in business as well as academia gauge the chances of a recession or, worse, a recession combined with inflation dubbed “stagflation.”
Trump’s moves over the next few days will determine whether he emerges as a free-trade hero building his book- and TV-burnished brand as a deal-maker, or he gives into his worst instincts fueled by shady advisors more into trade bashing than opportunity building.
Elon Musk, ever present in Trump policy debates, has called top trade advisor Peter Navarro a “moron” as the two tussle for Trump’s attention. Musk wants to see the tariffs quickly gone while Navarro, guaranteeing no recession, dismisses efforts of global leaders to negotiate an end to the new trade barriers.
If Trump chooses the path of negotiator, a bevy of countries are offering concessions that would easily allow Trump to rack up victories and start pulling back from the precipice while pressure builds on Canada, Mexico and Europe to back away from planned retaliation to make their own deals.
Among those offering Trump victories are at least a half-dozen important trade partners:
Israel: Israeli Prime Minister Benjamin Netanyahu actively has sought negotiations — promising to drop all tariffs on his side of the ledger before meeting with Trump to address the 17% tariff imposed on Israeli goods. Netanyahu has expressed a desire to eliminate Israel’s trade deficit with the U.S. quickly and strengthen economic ties, positioning Israel as a potential model for trade negotiations.
Taiwan: Taiwanese President Lai Ching-te has proposed zero tariffs as a starting point for negotiations, aiming to remove trade barriers and boost Taiwanese investment in the U.S. This comes in response to a 32% tariff on Taiwanese goods.
Vietnam: Vietnam’s leadership, including General Secretary To Lam, has offered to cut tariffs to zero on U.S. goods if a deal can be reached. Trump has confirmed discussions with Lam, indicating Vietnam’s proactive stance to avoid the economic shock of a 46% tariff.
South Korea: Acting President Han Duck-soo has ordered negotiations with the U.S. to minimize the impact of a 25% tariff. Trump has noted a “great call” with Han, discussing trade imbalances and potential deals involving LNG and shipbuilding.
India: Indian officials have indicated openness to cutting tariffs on over $23 billion of U.S. imports, targeting sectors such as pharmaceuticals and auto parts, to counter a 27% tariff. While not planning immediate retaliation, India is engaged in talks for a possible phased deal.
United Kingdom: Despite a 10% tariff, Britain’s business secretary has expressed a desire to remain calm and pursue a trade deal, signaling willingness to negotiate rather than escalate tensions.
In each case, Trump could accept their offers while pushing them to throw in a few more concessions aimed at Trump’s base in ag-heavy red states and across the post-industrial Midwest.
He’d look like a genius. Wall Street would quickly recover its trillions in paper losses with the engines of global commerce quickly sputtering back to life. America would be, to coin a phrase, great again and in a stronger position than ever.
Moreover, the American worker whom Trump claims to care so much about would enjoy a fairer trade environment than decades of the bipartisan free-trade consensus and endless negotiations were able to deliver. It would be a brutal blow to the elites Trump hates so much.
But that might not be in the cards. The White House press secretary is delivering mixed messages claiming one moment that negotiations are under way and the next that more tariffs are coming. Navarro continues to argue that offers of capitulation from overseas are nowhere near generous enough.
The only hope is that the showman Trump comes to the rescue, reminding trade-warrior Trump that every “Apprentice” episode needed conflict, climax and resolution in a neat package. Draw things out too much and you lose the audience.
Now that he is on a bigger stage, he has far more to lose than just ratings if he gets this wrong. So do we all.
This story was originally published April 9, 2025 at 5:05 AM with the headline "Showman Trump can still bring down the curtain on a boffo trade spectacle | Opinion."
