U.S. Secretary of Commercial Secretary Howard Lutnick gave back-to-back interviews to CNBC and Fox Business on Thursday, recalling some common trading points from the Trump administration. The specific details surrounding Comm Sec Lutnick's statements remain light, but the Trump administration may be fumbling showing hand about who between the US and China is under more pressure to reach a reason for a tariff walkback.
Basic highlights
I think we'll get there on July 8.
As you get to the larger economy and more work, it takes time.
I think the 10% baseline tariff will remain.
If you open countries in their market, the best they can do is 10%.
De-escalation and bringing rates is the goal for China.
We will go to deals next month.
We like 50% of domestic chips.
I am in favor of increasing tax rates on high profits.
US secretary of US Treasury Bescent is focused on China's discussions. I am a driver to others.
The UK deal helps to ease the hope of China's supply chain a bit.
I focus on big countries for the next trade deals.
I focus on big countries for the next trade deals.
We want a trade deal from a large country from Asia.
We have cards, and we will perform them well in trade talks.
