It is clear that Trump is not a good businessman or president. Even before the collapse of the North Korea negotiations, it was clear that this week was not going to do much for Trump’s vaunted self-image as a dealmaker. Not only were the prospects for the Kim meeting in doubt, there were setbacks regarding Trump’s two other top priorities: China and Iran.
On Monday morning, after a weekend of negotiations with China, Trump appeared to be abruptly backing off his threat to launch a trade war with Beijing, without winning any major concessions. “It’s absolutely stunning how we snatched defeat from the jaws of victory,” Trump’s former chief strategist, Steve Bannon, a huge proponent of Trump’s earlier strategy of confrontation, told the Times. “Sadly China is out-negotiating the administration & winning the trade talks right now,” the Republican Senator Marco Rubio, of Florida, a free-trader whose views are generally the opposite of Bannon’s, tweeted on Tuesday. By Wednesday evening, Trump’s Treasury Secretary, Steve Mnuchin, and his Commerce Secretary, Wilbur Ross, rushed up to the Capitol for an emergency session with a half-dozen unhappy Republican senators. The attendees were mad at Trump, but for different reasons than Bannon. They pressed for an explanation as to why, exactly, Trump seemed to be granting concessions to a Chinese telecom company, ZTE, that has been crippled by U.S. sanctions that prevent it from buying American components. The answer appeared to be a personal, direct request to Trump from the Chinese leader, Xi Jinping, amid the broader talks over Trump’s threat of sweeping trade tariffs. That explanation, though, failed to appease the senators. An attendee at the meeting told me later that he anticipated there could be more than seventy votes in the Senate to block Trump legislatively on the matter. This is not generally what winning looks like.
On Iran, meanwhile, Secretary of State Mike Pompeo rolled out on Monday what the White House billed as “our new Iran strategy.” Pompeo called for a sweeping new accord that Iran and the Europeans would somehow agree to after Trump blew up the old Iran deal. The Administration’s new strategy was quickly dismissed as unrealistic and a non-starter by many European allies and former Obama Administration officials still furious over Trump’s unilateral withdrawal from a pact that took years to negotiate. “Pompeo’s Iran Plan Is a Pipe Dream,” a headline in Foreign Policy said, hours after the speech. Soon after the article was posted, Pompeo tweeted furiously in response, “It’s not a pipe dream to ask the Iranian leadership to behave like a normal, responsible country.” The senior Administration official said he, too, was ticked off about the Iran criticism. “We haven’t even begun negotiations,” the official said, but, inside the Beltway bubble, “everyone is preëmptively declaring it dead? This is ridiculous.”
Americans, of course, quickly blamed all of it on a President who loves to brag about accomplishments, regardless of whether they are, in fact, accomplished. “Trump’s art of the self-harming deal,” the Financial Times’s chief U.S. columnist, Ed Luce, wrote. “Apparently he is not a strong dealmaker at all,” the Washington Post’s Jennifer Rubin wrote. “Artless negotiation from the President who penned the ‘Art of the Deal,’ ” the Times’s DealBook editor-at-large, Andrew Ross Sorkin, offered. And that was all before Thursday morning’s announcement that the summit with North Korea was off, and, with it, Trump’s hopes for a nuclear deal to end all deals.
On Tuesday, at a meeting with South Korean President Moon Jae-in in the Oval Office, Trump seemed to signal where it was all headed. Speaking to reporters, the President delivered a mini-lecture about the perils of dealmaking. “Whether the deal gets made or not, who knows? It’s a deal. Who knows? You never know about deals. You go into deals that are one hundred per cent certain, it doesn’t happen. You go into deals that have no chance, and it happens, and sometimes happens easily,” Trump told the reporters. “I made a lot of deals. I know deals, I think, better than anybody knows deals. You never really know.”