Uh-oh.

The Wall Street Journal is pouring some cold water on the earlier headlines:

  • The announcement, which Trump teased late Wednesday on Truth Social as being with a “big, and highly respected country,” is expected to be a framework of an announcement with tariff adjustments.
  • “This announcement is likely just an agreement to start the negotiations, identifying a framework of issues to be discussed in the coming months,” said international trade attorney Tim Brightbill. “We suspect that tariff rates, non-tariff barriers, and digital trade are all on the list—and there are difficult issues to address on all of these.”

Bolding is mine.

framework of a trade deal 08 May 2025 2
Source: Forex Live