US commerce chief says dozens of trade deals to be rolled out over next month

Kanishka Singh

Thu, May 8, 2025, 3:08 PM 2 min read

By Kanishka Singh

WASHINGTON (Reuters) -Washington volition rotation retired dozens of commercialized deals implicit the adjacent month, but a 10% tariff imposed connected astir countries volition apt stay, U.S. Commerce Secretary Howard Lutnick told CNBC connected Thursday

WHY IT'S IMPORTANT

Donald Trump's apical officials person engaged successful a flurry of meetings since the U.S. president connected April 2 imposed a 10% tariff connected astir countries, on with higher tariff rates for galore trading partners that were past suspended for 90 days. Trump has besides imposed 25% tariffs connected autos, alloy and aluminum, 25% tariffs connected Canada and Mexico, and 145% tariffs connected China.

KEY QUOTES

"Over the adjacent period oregon so, we are going to rotation retired dozens of deals," Lutnick said successful the CNBC interview.

When asked if a 10% baseline tariff was going to enactment irrespective of immoderate country, Lutnick said: "I deliberation that stays."

Lutnick said the 10% baseline tariff volition enactment for countries with balanced commercialized with the U.S. portion nations with commercialized deficits would person a higher tariff.

"Now if they truly unfastened their market, if they truly spell to municipality and accidental 'look we truly privation to get to just and balanced commercialized with America,' past the champion they tin bash is 10%. Most likely, they'll beryllium higher but the champion they tin beryllium is 10%," helium said.

CONTEXT

Lutnick besides said Washington aimed to de-escalate tensions with China done upcoming commercialized talks.

Trump said connected Thursday helium expects determination to beryllium substantive negotiations betwixt the U.S. and China connected commercialized this play and predicted that punitive tariffs connected Beijing of 145% would apt travel down.

When asked astir reporting that Trump urged a rise successful taxation rates connected the wealthiest Americans, Lutnick said helium supported that.

(Reporting by Kanishka Singh successful Washington; Editing by Chris Reese and Nia Williams)