"5. As of the date of this declaration, the United States has announced frameworks with Japan, Indonesia, the United Kingdom, the Philippines, Vietnam, South Korea, and the European Union. These frameworks set the parameters for continued negotiation regarding binding, final terms of agreements with these foreign trading partners. The President has found that these frameworks align these foreign trading partners with the national security and economic interests of the United States and help address the trade deficit."
"And whereas Trump claimed the deals contribute to agreements to invest $15 trillion in the US, Bessent only laid out "about" $2.35 trillion, covering both purchases and investments, that actually derive from these frameworks that aren't deals. 9. The frameworks for trade agreements already in place contain additional provisions 'whereby the trade partners agree to significant purchases from and/or investments in the United States (e.g., the European Union agreed to $750 billion in energy purchases and $600 billion in investment,"
Scott Bessent confesses that Trump's claims of completed trade deals were false. What were presented as deals are frameworks that set parameters for continued negotiation toward binding agreements. Frameworks have been announced with Japan, Indonesia, the United Kingdom, the Philippines, Vietnam, South Korea, and the European Union. The President found the frameworks align partners with U.S. national security and economic interests and help address the trade deficit. The U.S. continues active negotiations with other countries toward binding agreements. Bessent quantifies about $2.35 trillion in purchases and investments tied to these frameworks, far below a $15 trillion claim.
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