Republican lawmakers are expressing growing frustration over the Trump administration’s lack of progress on new trade agreements, especially in the wake of President Trump’s announcement of steep new tariffs targeting 14 countries.
Earlier this year, top officials — including Treasury Secretary Scott Bessent — indicated the administration was preparing to roll out a slate of trade deals by early July. But instead of formal agreements, the administration has ramped up tariff threats against key trading partners like Japan, South Korea, and Indonesia, sparking concern among GOP leaders and business allies.
Sen. Thom Tillis (R-N.C.), a member of the Senate Finance Committee, said the ongoing uncertainty is damaging for the economy and warned that the administration’s tariff-heavy approach could create political problems for Republicans in the next election cycle.
“Business hates uncertainty,” Tillis said. “I would never advise a former client to make any major moves in this kind of environment.”
Tillis noted that despite months of talks, not a single formal trade agreement has been finalized—including with close allies like the United Kingdom. “We have memoranda of understanding, but not the kind of fully ratified deals with enforcement and dispute resolution that give businesses long-term confidence,” he said.
He added that the lack of clarity and structure around the White House’s trade strategy could ultimately lead other nations to walk away from the negotiating table entirely.
Tillis, who previously worked as a partner at Price Waterhouse and has deep experience in the private sector, said the administration’s approach—targeting multiple trading partners simultaneously—was flawed from the start.
“The whole baseline framework of applying tariffs across the board just didn’t make sense to me,” he said.
