WASHINGTON, D.C.: Former U.S. President Donald Trump announced he will unveil what he called a “major trade deal” during a press conference scheduled for 10:00 a.m. tomorrow in the Oval Office. Posting on Truth Social, Trump described the agreement as involving a “big and highly respected country,” adding that this deal would be “the first of many.” “Big news conference tomorrow morning… concerning a MAJOR TRADE DEAL with representatives of a BIG, AND HIGHLY RESPECTED, COUNTRY,” Trump wrote, offering no further specifics on the nation’s identity. The announcement comes as U.S.-China trade talks begin in Switzerland—marking the first formal engagement since tensions flared. Trump, however, dismissed any notion that the U.S. initiated the talks under pressure. “They said we initiated [the talks]? I think they ought to go back and study their files,” he said in response to Chinese claims. While speculation swirls over the country involved, the move appears aimed at reinforcing Trump’s trade credentials amid a backdrop of renewed economic uncertainty. Earlier this week, he claimed that the U.S. is no longer suffering “a trillion dollars a year” in trade losses and reaffirmed his hardline stance on tariffs. “We could sign 25 deals tomorrow if we wanted,” he said, “but we’re only signing the right deals for America.” Fed Holds Rates Amid Trade Turmoil Meanwhile, the U.S. Federal Reserve has opted to hold interest rates steady at 4.25%–4.50%, citing inflationary risks and employment concerns. Fed Chair Jerome Powell highlighted “a great deal of uncertainty” linked to trade policies, particularly the impact of Trump’s sweeping tariffs, which have rattled markets and raised alarms over long-term economic growth. Although key economic indicators remain strong, consumer sentiment is weakening, and inflation expectations are rising. Despite Trump’s repeated calls for rate cuts, Powell emphasized the Fed’s commitment to data-driven decisions. Analysts now forecast any potential rate reductions may be pushed to September. Hollywood Feels the Heat From Trump’s Tariff Talk Adding to the broader uncertainty, Trump floated a proposal to impose 100% tariffs on foreign films—a move that, while unlikely to be enacted, highlights mounting challenges in the U.S. entertainment sector. Hollywood, facing stiff global competition, is already seeing a decline in domestic filming as production increasingly shifts overseas to benefit from foreign tax incentives. In response, California lawmakers are exploring expanded tax credits to keep the industry anchored in Los Angeles.
Trump Teases ‘Major Trade Deal’ With Key Global Partner Ahead of Press Conference
