The president is deploying the word “deal” liberally, using the term to describe all kinds of trade arrangements, some very limited or one-sided.

Its new deal with Vietnam and its fresh tariff threats issued to many other countries seem designed to reduce China’s role in their supply chain. Countries that had hoped to stay out of the new cold war now fear they are being forced to pick a side. To appease the world’s biggest market, they must anger the world’s biggest trader.

Donald Trump and the UK will reportedly announce a trade deal to reduce tariffs. The US President teased an announcement on his Truth Social account of a ‘big news conference’ announced today involving a ‘major trade deal’.