With zero official trade deals signed by his self-imposed deadline, Donald Trump extended it — again  — for the third time. Once again, Trump has failed to secure the 200 “deals” in 120 days that he promised. Meanwhile, his reckless trade war has piled unnecessary costs and uncertainty on consumers and businesses and thrown the economy into chaos.

In response to Donald Trump’s failure to meet his self-imposed trade war deadline, DNC Senior Advisor for Messaging, Mobilization, and Strategy Tim Hogan released the following statement:

“Donald Trump loves to brag about making deals — you would think he actually knows how to make one. Instead, Trump has spent six months dragging the country into his chaotic and reckless trade war. Now, he wants another extension, meaning there’s no end in sight to his economic catastrophe that continues to saddle consumers and small businesses with skyrocketing prices and uncertainty. Americans can’t afford another day of Trump’s reckless trade war.”

WHERE ARE THE DEALS, DONALD?: After promising 90 deals in 90 days, Trump delays his trade deadline for the third time. 

CNBC News: “Come Friday, the world will have to contend with higher tariff rates from the Trump administration, raising the specter of even more economic uncertainty. …

“Back in April, Trump had claimed to have done ‘over 200 deals’ in an interview with Time Magazine, and trade advisor Peter Navarro had said that ‘90 deals in 90 days’ was possible. The country has fallen far short of that…”

Politico: “EU admits it can’t guarantee $600B promise to Trump” 

“The European Union has admitted it doesn’t have the power to deliver on a promise to invest $600 billion in the United States economy, only hours after making the pledge at landmark trade talks in Scotland.

“That’s because the cash would come entirely from private sector investment over which Brussels has no authority, two EU officials said.” 

Associated Press: “What Trump described as a ‘deal’ is actually less than that: It’s a ‘framework’ meant to set the stage for more substantive talks.”  

Bloomberg: “President Donald Trump’s flurry of trade deal announcements are so far proving light on detail — with key aspects still under negotiation, partners giving mixed signals about what they signed up for, and big numbers shrinking under scrutiny.”

Bloomberg: “Trump’s Preliminary ‘Napkin’ Deals on Trade Face Scrutiny”

Instead of signing deals, Trump has spent the last 90 days chickening out and caving with extension after extension in exchange for nothing. 

Forbes: “The months since President Donald Trump’s April ‘Liberation Day’ tariff announcement have been defined by the constant reversals below, with Trump’s decision to extend his tariff pause until August just the latest in a long string of about-faces defended by some as negotiating genius—and others on Wall Street as proof ‘Trump always chickens out.’”

Associated Press: “US and China agree to work on extending the tariff pause deadline in trade talks in Stockholm” 

“China said the two sides had ‘in-depth, candid and constructive’ discussions and agreed to work on extending a pause in tariffs beyond an Aug. 12 deadline for a trade deal for another 90 days. … 

“The two sides backed off the brink during bilateral talks in Geneva in May and agreed to a 90-day pause — which ends Aug. 12 — of those sky-high levels. They currently stand at U.S. tariffs of 30% on Chinese goods, and China’s 10% tariff on U.S. products.” 

Donald Trump: “The complexities of a Deal with Mexico are somewhat different than other Nations because of both the problems, and assets, of the Border. We have agreed to extend, for a 90 Day period, the exact same Deal as we had for the last short period of time …” 

Now, Trump’s reckless trade war is killing jobs across the country and costing working families and small businesses billions.

Challenger, Gray, and Christmas: “U.S.-based employers announced 62,075 job cuts in July, up 29% from June’s 47,999. It is up 140% from 25,885 announced in the same month last year, according to a report released Thursday from global outplacement and business and executive coaching firm Challenger, Gray & Christmas. … 

“So far this year, companies have announced 806,383 job cuts, the highest YTD since 2020 when 1,847,696 were announced. It is up 75% from the 460,530 job cuts announced through the first seven months of last year and is up 6% from the 2024 full year total of 761,358.”

CNBC: “As the August 1 deadline for trade deals or sweeping tariffs on countries around the world nears, and the Trump administration advises the market ‘not to panic,’ wholesalers and distributors are warning of a massive hit to a sector at the heart of the U.S. economy. … 

“High tariff rates will lead to ‘inevitable’ price increases. …

“A survey by the National Association of Wholesaler-Distributors found 62% of distributors expect their cost of goods sold to rise by 10% or more in 2025. Other research shows a similar outlook for higher costs and prices.” 

Associated Press: “Trump’s tariffs could squeeze US factories and boost costs by up to 4.5%, a new analysis finds”