Well, howdy there, Internet people, it's Bell again.

And welcome to the roads with Bell.

Today is July 31st, and we're going down the roads to Trump's trade deals and the U.S. economy.

We've had a bunch of questions about the state of the economy and Trump's trade deals. First, we'll go through the status

of the trade deals because I feel like that will answer a lot of questions. Japan. As we

pointed out when the news broke, Trump's claim of a $550 billion investment fund was sketchy, and there was a lot of fuzzy math.

News is now out that of that $550 billion, only 1 to 2% will actually be investment.

The rest will be loans or loan guarantees. Oh, and the Japanese investments could be for non-American

companies. The auto industry is understandably unhappy because Japanese brand cars will have

lower tariffs than the cars of American companies that had their parts made here, but were assembled

in Canada or Mexico.

Once all the fanfare wore off, this was not a groundbreaking win for the U.S. in any regard.

It looked structured to tax Americans, not bring back jobs.

China. There's no deal. At time of recording, there's nothing stopping tariffs from

surging again, but there's hope of one occurring. Canada, there's no deal. Mexico, no deal. The EU.

There's concepts of a deal. Again, there's a magical investment fund of 600 billion

that just hours after Trump announced it, it became clear that it wasn't actually happening.

Beyond that, the deal Trump kept referring to is really a framework, and that framework isn't approved by the EU.

And its approval is uncertain.

The American auto industry is upset for the same reason they're mad about the sketch of a deal with Japan.

The European Union has pledged to buy $750 billion of energy from the U.S.

But experts point out that is a non-binding pledge.

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