U.S. tariffs on China remain unchanged, says Lutnick

U.S. tariffs on China are set to remain unchanged, confirms Commerce Secretary Howard Lutnick amid ongoing trade negotiations.

Commerce Secretary Howard Lutnick confirmed that U.S. tariffs on Chinese imports will remain unchanged, despite ongoing trade negotiations.

In a recent interview on CNBC, Lutnick stated that current tariff levels will not shift, aligning with President Donald Trump’s assertion of a total 55% tariff rate, which combines existing blanket tariffs and additional product-specific duties.

Trump declared that a deal with China is “done” but still pending final approval. He noted that China’s tariffs on U.S. goods remain at 10%, consistent since a prior agreement to ease duties.

Specifics unresolved

Recent trade talks in London aimed to establish a truce after a preliminary agreement in Geneva, though specifics remain unresolved. Lutnick mentioned that there was a noticeable delay from China regarding rare earth exports, prompting actions from the U.S., including visa restrictions on Chinese students.

Following Trump’s direct communication with Chinese President Xi Jinping, immediate approval for U.S. magnets and rare earths was anticipated. However, concerns linger regarding the temporary six-month licenses China plans to issue for U.S. imports, creating potential instability.

The White House has yet to provide further clarification on the details of the agreement reached during the London discussions. As the trade relationship evolves, uncertainties about supply chain impacts remain a topic of interest.