With just two months left on his 90-day tariff pause, Trump struck a deal with the UK. Other trade deals remain up in the air.

Opposition to Trump may have jumped the gun on the doom and gloom forecasts. Trump's string of deals and demands have moved markets to recovery. Major indices have since exceeded both their April 1 closes and predictions.

President Donald Trump's Treasury Secretary Scott Bessent provided an update on its productive trade negotiations with China.

In pausing his big reciprocal tariffs on most nations last month, President Donald Trump said countries were clamoring to negotiate trade deals ... U.S. partners such as China, Mexico and Canada ...

While the details of the deal are still being worked out, it will lower tariffs on cars imported from the UK to 10%, while slashing levies on beef products.

Trump also met with Russian-American ballet dancer, Ksenia Karelina, at the White House Monday. Karelina faced a sentence of 12 years in a Russian penal colony for treason in 2024, but the Trump administration negotiated her return to the U.S. during a U.S.-Russian prisoner swap in April.

The U.S. has a $12 billion trade surplus with the United Kingdom, meaning it already exports more than it imports. Meanwhile, the baseline 10% tariff Trump announced April 2 will remain in effect for most U.K. imports, which could lead to higher prices for consumers.

As Trump administration officials prepare to meet with Chinese officials in Geneva this weekend, it’s tempting to believe the momentum from the United Kingdom trade deal announcement on Thursday will carry over.