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FinanceNewsWho Wrangled the Best Trade Deal From Donald Trump?
Who Wrangled the Best Trade Deal From Donald Trump?
Finance

Who Wrangled the Best Trade Deal From Donald Trump?

•February 10, 2026
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The Economist – Finance & Economics
The Economist – Finance & Economics•Feb 10, 2026

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Getty Images

Getty Images

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Why It Matters

The deals could reshape U.S. market access in South America and South Asia, but domestic opposition may hinder implementation and affect future trade policy.

Key Takeaways

  • •Trump clinched tariff cuts with Argentina, India.
  • •Indian farmers decry deal as surrender.
  • •French ex‑PM calls EU‑U.S. pact submission.
  • •Agreements grant limited U.S. export advantages.
  • •Domestic backlash may stall deal execution.

Pulse Analysis

Trump’s latest trade overtures signal a renewed focus on bilateral negotiations after years of multilateral gridlock. By easing specific tariffs, the Argentina and India pacts aim to open modest corridors for American manufacturers, particularly in agriculture and automotive components. The agreements are deliberately narrow, avoiding broader structural reforms, which allows the administration to claim diplomatic victories without committing to sweeping policy changes that could provoke legislative resistance at home.

In India, the response was swift and hostile. Farmer unions, already strained by previous subsidy cuts, framed the deal as a surrender of national agricultural sovereignty, fearing an influx of cheap U.S. produce that could depress local prices. Across the Atlantic, France’s former prime minister echoed similar sentiments, labeling the EU‑U.S. arrangement as a sign of submission, underscoring the perception that tariff concessions are being traded for political goodwill rather than genuine economic partnership. These reactions highlight the delicate balance between securing market access and managing domestic constituencies that view trade liberalization with suspicion.

Looking ahead, the limited scope of the deals suggests a testing ground for a more aggressive U.S. trade agenda. If the tariff relief translates into measurable export growth, the administration may leverage those results to justify deeper engagements in other emerging markets. Conversely, sustained opposition could force a recalibration, prompting policymakers to pair future concessions with domestic support measures, such as targeted subsidies or transition assistance for affected industries. The outcome will shape not only bilateral trade flows but also the broader narrative of America’s role in a fragmented global trade environment.

Who wrangled the best trade deal from Donald Trump?

Image 1: A freight train with an Indian flag on the front carrying cargo containers rides along a railway track in Ajmer, India.

Photograph: Getty Images

Feb 10th 2026 | 3 min read

In recent weeks President Donald Trump has struck new trade deals with Argentina and India. Both countries have obtained partial relief from tariffs by making it easier for American firms to sell goods to their citizens in return. The backlash from those citizens was swift. Indian farmers’ unions branded the deal a “total surrender”; an opposition politician warned that India risked becoming “a dumping ground”. Such charges have become familiar. France’s former prime minister described the EU’s deal with America as an act of “submission”.

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