Last Thursday, the Trump administration announced its first trade deal since its April 2 tariff hike, and it’s clear that higher tariffs are here to stay. Reached with the United Kingdom, the deal, billed by the White House as “historic” and a “breakthrough," improves trade conditions only relative to the upheaval of recent weeks. Compared to the trade conditions that prevailed when Trump took office in January, there is little to celebrate. Colin Grabow, Associate Director at the Cato Institute’s Herbert A. Stiefel Center for Trade Policy Studies, joins Newell to discuss the issue.