Either way, the stature and role of the US internationally has been forever altered, and not positively.
One of America's largest trading partners (6th largest import market) so there's that.
Furthermore, India is also working on announcing a Bilateral Trade Agreement with the US before the QUAD Summit in October (https://www.bloomberg.com/news/articles/2025-04-03/trump-pil...)
Other large countries also have delegations in the midst of negotiations already - like SK (https://www.bloomberg.com/news/articles/2025-04-03/south-kor...).
The EU has also started negotiating (https://www.bloomberg.com/news/articles/2025-04-04/eu-begins...)
And Canada and Mexico remain under NAFTA/USMCA.
Tl;dr - most of America's largest trading partners are in the midst of negotiations or exempt.
China is not playing ball, but equally large India is working on announcing a Bilateral Trade Agreement (a FTA in all but name) with the US by Aug-Oct.
To put it impolitely, bullshit. Zero rational analysis comes to this conclusion.
Trump began this idiocy by attacking Canada and Mexico, the very countries he triumphantly signed his trade agreement with just five years ago. He lied -- that's what he does -- about a made up Fentanyl emergency, but it's clear the guy loves tariffs (he's been going on about this for years, and still people try to pretend that isn't what this is about...amazingly everyone just assumes that everything out of his mouth is a lie). Outside of oil and gas the US has (or rather had) a massive trade surplus with Canada, but oh well that's a thing of the past now and will never return.
Then he attacked everyone else.
He did the same thing in term one. He could easily have gotten everyone onboard with strategies to contain or slow China, but instead he pushed everyone else away. He had adults in the room containing his profound sabotage of the US the first time, but this time he's going to speedrun the country to dissolution.
I get that the Trump faithful are desperately trying to do the 4D chess thing now. It will never work. The clown has no idea what he is doing, and has build such a cult no one can tell him how profoundly stupid he is. His treasury secretary is likely to quit in days.
But I maintain that the real core thing behind this chaos is about China.
Early in the nonsense with Canada, Lutnick and Bessent repeatedly tried to give an offramp by broaching the possibility of a revised CUSMA / NAFTA that included more coordinated action on China. The problem, though, is that Trump is a catastrophically stupid imbecile / self-serving criminal, with his administration of Fox News plastic face morons and criminals -- I will not mince words about it, and every American should feel shameful how far they have fallen -- so all the attempts are for naught. Trump kept barrelling ahead like a particularly dumb rhino, to the net effect of significant damage to the US.
Like, at this point everyone realizes that China is going to take Taiwan right, and it will 100% be because of Donald Trump. The only thing stopping them before was concerns about relationships, trade, being a pariah. Now you have the US repeatedly boasting about taking Greenland, about making Canada a state, and spitting in the faces of every ally, all while pandering to dictator garbage like Putin. Yeah, one China will be Trump's legacy. And from that, the percolating violence that will grow.
It cannot be overstated how catastrophic that clown will be for the US and for the world in general, and he's just getting started. Nuclear proliferation has a decade ahead of going absolutely wild.
It is a many-magnitudes more dangerous world, and Americans that think they will be immune from what is coming, courtesy of that orange faced clown, are in for a very rude reality.
What do you think Vietnam will offer?
It has negligible tariffs on US goods. It exports a lot to the US because it has very cheap labour, because it's a poor country. It is in no position to buy more from the US. There is no universe where it's going to even remotely close that trade deficit.
So what, in your rose-coloured view, do you think they are offering up?
I mean, everyone realizes this is a hilarious cope regardless. Trump declared, with utter absolutism, that the tariffs are not going anywhere and there is no way to negotiate them. That his "ERS" would net trillions and balance the budget. But wait...now it was really a masterful negotiating strategy?
I mean, Trump could have said "here's the tariffs we have estimate based upon a current analysis", and if isn't remediated in a month we'll stagger in "reciprocal" tariffs. That isn't what he did. Instead he did the stupidest thing imaginable, which is what we see today. So yes, when he has to backtrack because it was the most catastrophic self-destruction in history, feel good that a super poor country came "hat in hand".
There is no deal to be had here. Trump wanted to impose the largest tax hike in history to pay for massive tax cuts for your plutocrats. Everything else is bullshit.
In a couple of months Trump has firmly destroyed US leadership, and absolutely cemented China's ascendancy. All of the ridiculously specious "it's actually 4D chess and what he's really doing are..." is a riot in the context of the pure unadulterated stupidity coming from this administration.