When it comes to trade deals, the devil is in the details. Coincidentally, the devil is also in Donald Trump, so when he tweeted on Saturday that he’d just reached “by far, the greatest and biggest deal ever made for our Great Patriot Farmers in the history of our Country,” the media was skeptical. After all, he promised that a deal with China was on the horizon back in May. In August, he lied about a call from Chinese trade officials who he claimed were desperate to get back to the negotiating table. And then again in December he claimed to have a deal in pocket only to see it vanish into thin air.
All the money geniuses treated the China trade deal like a sure thing, the Dow Jones closed up 300 points, and Donald Trump fired off a bunch of insane tweets about farmers needing to buy new tractors to produce eleventy billion tons of corn.
EXCEPT … you’ll never guess what actually happened!
Turns out, there is no trade deal after all! Fam, we are shook. As Bloomberg was first to report this morning, there will have to be another round of talks to nail down the details before Chinese President Xi Jinping agrees to sign anything. And he wants Trump to cancel the tariff hikes planned to go into effect on December 15 before the agreement is inked, not after.