Trump Downplays Urgency of Trade Agreements Amid Market Drop

President Donald Trump has downplayed the urgency of signing trade agreements, stating that the U.S. does not necessarily need to formalize deals with other countries. During a meeting with Canadian Prime Minister Justin Trudeau at the White House, Trump expressed frustration with the constant inquiries about the timing of trade agreements. "We don't need to sign an agreement; they need to sign an agreement with us. They want to enter our market share, and we don't want their market share," Trump said.

Despite repeated statements from various countries seeking bilateral trade talks with the U.S., Trump and his administration have yet to announce any formal agreements or frameworks. Trump's comments come as his administration faces increasing pressure to show progress in trade negotiations. "I hope they... stop asking this week how many agreements you're going to sign. Because one day we're going to come and give you 100 agreements at once," Trump stated, clearly irritated by the persistent questions.

Trump's remarks on Tuesday contrast with statements made by Treasury Secretary Steven Mnuchin the day before, who indicated that the U.S. was "very close to reaching some agreements." Trump himself had hinted at potential trade deals this week, stating on Sunday that it was "very possible" that agreements would be announced. However, on Tuesday, Trump criticized senior aides, including Mnuchin and Commerce Secretary Wilbur Ross, for overpromising on trade deals.

"I think my people haven't been clear on this, we will sign some agreements. But what's more important is that we will lower the prices people have to pay when they shop in the U.S. Think of us as a super luxury store, a store with good merchandise," Trump said. His comments followed a drop in U.S. stock markets on Tuesday afternoon, as investors and business leaders eagerly await concrete progress in trade negotiations with major U.S. trading partners such as Japan, South Korea, and India.

Despite the anticipation, the Trump administration has yet to provide detailed information on any specific agreements. Instead, senior officials have repeatedly hinted at imminent deals, suggesting that announcements could be made within days. This lack of clarity has left many wondering about the true status of these negotiations and the potential impact on the U.S. economy.