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. Starting Aug.
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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.