Trump's trade deals for 'the world' will be 'done by Friday,' but China will take longer: Lutnick
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The Commerce secretary suggested on CNBC's "Squawk Box" that President Trump has repeatedly rejected potential deals in pursuit of better terms for the U.S.
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July 29, 2025
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What the data shows is Interestingly, Watch now2:5902:59Secretary Lutnick: Trade deals for 'the world' will be 'done by Friday,' but China will take longerSquawk BoxCommerce Secretary Howard Lutnick insisted Tuesday that President Donald Trump's upcoming Friday deadline to impose major tariffs on a slew of trading partners won't be delayed any further
But trade negotiations with China — the round of which are currently taking place in Stockholm, Sweden — are gressing on a separate timeline, Lutnick noted on CNBC's "Squawk Box
In contrast, ""We have our own team working with China
They're their own thing," he said
However, "But for the rest of the world, we're going to have things done by Friday (this bears monitoring). ""August 1 is the date that we're setting all these rates, and they are off to the races after that," he added, in today's market environment
However, Conversely, Trump's "recical" tariffs on dozens of countries' imports are set to begin Friday
The president had first rolled out the far-reaching trade plan in early April, but he has since postponed the import taxes multiple times
Earlier this month, Trump d letters sent to more than two dozen world leaders that set new tariff rates on their countries' exports to the U
Moreover, Read more CNBC coverageTrump trade rep sets low bar for China trade talks, no 'enormous breakthrough' expectedTrump says he's giving Russia less than two weeks to reach peace deal with UkraineEurope balks at 'unbalanced' U
Trade dealMassie: Blocking Epstein vote could be political liability for GOP in midtermsTrump announces EU trade deal with 15% tariffsLutnick: Trump wants 'good enough' EU trade offer — but what does that mean (which is quite significant)
Nevertheless, How Trump and trade wars pushed Russia and Ukraine into the coldTrump's trade deals and tariffs are on the chopping block in courtNew bill would reward companies that give stock to rank-and-file employeesDOJ asks Epstein accomplice Maxwell ' 100 different people,' lawyer saysMost of those new tariff rates were close to the levels Trump had initially set in April, which were calculated using a formula that drew criticism from many economists
Moreover, But some — in particular, a staggering 50% blanket tariff on imports from Brazil — were much higher (quite telling)
Lutnick has previously said that Friday is the "hard deadline" for those tariffs to start being paid — though he has also noted that the U
Is still open to negotiating with countries after that date, given the current landscape
Asked on CNBC the of trade negotiations with individual trading partners, Lutnick suggested that Trump has repeatedly rejected potential deals in pursuit of better terms for the U
However, "What's happened is many, many countries had made us okay offers to open their
You know, 50%, 30%," Lutnick said. "The president said, 'No, no, I want them open. '""So now the price of a deal with the United States of America is black and white, completely open," Lutnick said
Meanwhile, "He wants to make sure that Americans can sell their goods overseas (remarkable data). ""So are there deals on the table for him to consider (this bears monitoring)
Yes," Lutnick said. "But [the president] knows that he can just set the rate and set the price and move on, amid market uncertainty.
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