Trump: It is "entirely possible" to reach a trade protocol this week.

On May 5, U.S. President Trump hinted to reporters last Sunday that his administration might reach trade agreements with some countries “as early as this week,” providing a glimmer of hope for trade partners seeking to avoid hefty U.S. tariffs. When asked if any trade agreements would be reached this week, Trump replied, “It’s entirely possible,” but did not specify which countries were involved. He further stated that in the next two to three weeks, tariff standards would be directly set: “Certain countries have huge trade surpluses with the U.S. and take advantage of us in various ways, and we are well aware of this.” U.S. Vice President Pence revealed that an agreement with India could be one of the first results, while negotiations with Japan, South Korea, and Europe are also progressing. Despite the recent consecutive rises in U.S. stocks and last Friday’s better-than-expected employment report boosting economic confidence, most economists predict that trade conflicts could lead to an economic slowdown later this year. Legendary investor Buffett rarely criticized protectionist policies over the weekend: “Trade should not be used as a weapon.” (Jin10)