The UK deal is a good start, but Trump needs more to declare victory

More trade deals are coming, Donald Trump bellowed as he announced one with the UK, something he called “historic” before imploring people to buy the stock market or in his words, “you better go out and buy stock ..

.This country will be like a rocket ship that goes straight up.”The stock market seemed to agree, rising more than 500 points on the news that we might avoid tariff induced inflation or an economic slowdown.But buying the stock market now with a difficult China trades deal looming plus the EU? Maybe, though consider the following:More trade deals will be announced probably as early as next week with India and Japan.

India would have emerged first if it weren’t for its government being distracted with a possible war with Pakistan, my sources with contacts in the White House say.Australia and South Korea could follow.More good news.

We may even get a surprise or two that should boost confidence that Trump learned from the near implosion of the markets that followed “liberation day” and caused him to “pause” his sledgehammer approach to trade and instead cut deals using the deft hand of Treasury Secretary Scott Bessent rather than the blunt of instrument of Howard Lutnick or Peter Navarro.Here’s my worry: Those deals are small potatoes.So is the UK, with an economy valued at a little less than $4 trillion.For comparison, the US has a GDP of more than $30 trillion, while China is hovering at $20 trillion, the EU (European countries outside of the UK) at $20 trillion.We still don’t have deals with two trading partners with economies that, when combined, dwarf the size of the US.

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Another worry: There seems to be something contrived about the UK framework.My source...