With panic spreading in markets across the globe, world leaders raced over the weekend to make offers to U.S. President Donald Trump to lower tariffs across the board.
The problem, however, is that it’s unclear what exactly Trump would find acceptable — or if he even wants to make deals at all. Trump set a high bar on Sunday night, telling reporters that any agreements would need to eliminate bilateral trade deficits.
"To me, a deficit is a loss,” Trump told reporters on Air Force One. "We’re going to have surpluses or, at worst, we’re going to be breaking even.”
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