Is Trump Winning His Trade War?

The Journal.

The Wall Street Journal

Daily News, Business News, News

4.2 • 5.3K Ratings

🗓️ 1 August 2025

⏱️ 19 minutes

🔗️ Recording | iTunes | RSS

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Summary

Over the last few months, President Donald Trump has struck numerous trade deals with countries and continues to negotiate with others. The European Union, Japan and South Korea all agreed to a tariff rate of 15%. WSJ’s Greg Ip says Trump has succeeded on his own terms and created a new trade world order, albeit a fragile one. Jessica Mendoza hosts. Further Listening:- A Pharmaceutical Executive on Trump’s Tariff Strategy- Why Trump Pushed His Tariff DeadlineSign up for WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Today is August 1st, a day that's been looming over trade negotiations for weeks.
0:11.0	It's the day that President Trump said was the final, final deadline for countries to strike trade deals with the U.S.
0:16.9	So August 1 is just days away.
0:19.5	30% tariffs beginning August 1st. President Trump moments ago says the August 1 is just days away. 30% tariffs beginning August 1st.
0:21.8	President Trump moments ago says the August 1st deadline stands strong and will not be extended.
0:29.2	The August 1st deadline can be boiled down to this.
0:32.8	Make a trade deal with the United States or get hit with steep tariffs.
0:37.2	The deals all start on August 1st.
0:39.7	We've taken in hundreds of billions of dollars.
0:42.7	The administration said it would strike 90 deals in 90 days.
0:46.3	That didn't happen.
0:47.7	But Trump has cut deals with a number of countries over the past few weeks,
0:51.4	with some agreements coming down to the wire.
0:54.4	Washington has secured trade deals with both Thailand and Cambodia.
0:58.5	President Trump announcing a trade deal with the United States and the UK.
1:02.5	Trump is touting his trade agreement with Japan as one of the largest in history.
1:07.5	For a trade deal with the European Union.
1:09.2	A new deal has been announced with one major trading partner. That is South Korea. As a trade deal with the European Union. A new deal has been announced with one
1:11.5	major trading partner. That is South Korea. As for those countries that didn't make a deal,
1:17.5	last night, Trump signed an executive order that set a 15% baseline tariff for many of those
1:22.9	trading partners. Those tariffs go into effect next week. As of today, Trump has arrived at tariffs on all U.S. trading partners.
1:33.2	My colleague Greg Ip is the Wall Street Journal's chief economics commentator.
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