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What Trump doesn’t (but should) understand about his own trade deals To hear the president tell it, foreign counties are responding to tariff threats by giving him massive amounts of cash. Reality suggests otherwise.

Aug. 6, 2025, 1:17 PM EDT

By Steve Benen

At a White House event last week, Donald Trump appeared eager to boast about the incredible investments he’s securing thanks to his negotiating prowess. “We have a deal with Japan where they’re going to pay us $550 billion,” the president claimed . “We have a deal with Europe where they’re doing $750 billion plus $400 billion plus $300 billion, and many other countries.”

Around the same time, he declared that South Korea had to pay a 25% tariff, which he unilaterally agreed to lower to 15% after it

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