Trade Secrets and Tariff Tantrums: A License to Deal or a GoldenEye for an Eye?

The Name's Bond Trade Bond

Well hello there. James Bond at your service reporting live from the murky world of international trade where fortunes are won and lost with the flick of a pen – or perhaps in this case the tweet of a president. Seems the Trump administration much like a villain with a penchant for theatrics is gearing up for a series of trade announcements. Treasury Secretary Scott Bessent a chap who wouldn't look out of place in a casino in Monte Carlo hinted at imminent progress. 'We've had a lot of people change their tune in terms of negotiations,' he purred. Sounds like someone's been turning up the charm or perhaps brandishing a well polished Walther PPK of economic leverage.

Deadlines are Forever

Now you know me I'm all about a good deadline. Preferably one involving a ticking time bomb and a damsel in distress. But these trade deadlines seem to be shifting faster than a roulette wheel. July 9th was the date for high tariff rates to snap back into effect but now it seems they're holding fire until August 1st. It's all a bit like trying to disarm a nuclear weapon with one hand tied behind my back. As Trump himself vaguely put it 'They're going to be tariffs. The tariffs are going to be the tariffs.' Crystal clear wouldn't you say?

Letters From Russia With Tariffs

Trump never one to shy away from a grand gesture apparently plans to send out as many as 15 letters to U.S. trade partners dictating new tariff rates. Bessent describes these letters as 'pretty standard,' but I suspect they're anything but. 'Thank you for wanting to trade with the United States of America. We welcome you as a trading partner. And here's the rate unless you want to come back and try to negotiate,' he says. It's like inviting someone to a black tie gala then presenting them with the bill for the champagne.

The World Is Not Enough (Tariffs)

The Commerce Secretary Howard Lutnick chimed in with 'But they go into effect on Aug. 1 ... the president is setting the rates and the deals right now.' One can only imagine the flurry of activity behind the scenes as trade officials scramble to decipher the tea leaves and figure out exactly what 'the president' wants. It's a high stakes poker game and the world economy is the pot.

Live and Let Trade Die

Naturally CNBC tried to get some clarity from the White House but received the usual radio silence. It seems some secrets are more closely guarded than the recipe for a Vesper martini. 'Shaken not stirred,' naturally.

Never Say Never (To The Fed)

And what of Mr. Bessent's future? Could he be the next chair of the U.S. Federal Reserve? 'I will do what the President wants,' he coyly replied. Classic deflection. He's either being admirably loyal or he's got his eye on the prize. Either way it's a situation worth watching. As they say 'The world is not enough,' and perhaps Mr. Bessent feels the same way about his current job. But for now I must dash. The name is Bond Trade Bond. And I have a feeling this is only the beginning of this mission...