Turbulent Trade: U.S. Commerce Secretary Discusses Persistent Tariffs Amid Deal Rollouts

U.S. Commerce Secretary Howard Lutnick announced that numerous trade deals will emerge next month, maintaining a general 10% tariff despite anticipated negotiations. Lutnick emphasized that this baseline will adjust based on trade balances. Tensions with China remain under focus, with high tariffs set to decrease through future talks.

In a strategic move, the United States is set to unveil numerous trade deals over the next month, as indicated by Commerce Secretary Howard Lutnick during a CNBC interview. Amid these developments, a 10% tariff on most countries is expected to persist, Lutnick confirmed on Thursday.

President Donald Trump has spearheaded the imposition of a baseline 10% tariff, with additional rates applied to specific countries like China, Canada, and Mexico. Amid meetings with key leaders, the administration aims to adjust these tariffs, with balanced trade partners seeing the baseline as the best-case scenario.

Despite tensions, the U.S. is seeking to ease relations with China through upcoming negotiations. Trump hinted at a potential reduction in high tariffs on Beijing, which currently stand at 145%. The administration's outlook indicates a balanced trade framework, with indications of tax reforms targeting wealthier Americans.

(With inputs from agencies.)