U.S. tariffs on China won’t change again, Lutnick says after trade talks

U.S. tariffs on China won’t change again, Lutnick says after trade talks


Commerce Sec. Howard Lutnick: China tariff levels are set and won't change from here

Commerce Secretary Howard Lutnick said Wednesday that U.S. tariff levels on Chinese imports will not change from their current levels, even as a trade deal between Washington and Beijing has yet to be finalized.

Asked on CNBC’s “Money Movers” if the current U.S. tariffs on China are not going to change again, Lutnick replied, “You can definitely say that.”

President Donald Trump said in a Truth Social post Wednesday morning that U.S. duties on China will total 55% — but a White House official told CNBC soon after that that figure is not new.

Rather, it comprises the existing 30% blanket U.S. tariffs on China, plus the 25% tariffs on specific products that also were already in place, the official said.

Trump sent his all-caps post hours after Lutnick and other trade negotiators for the two economic superpowers concluded high-level talks in London.

The president said the deal is “done,” but added that it is still “subject to final approval” between himself and Chinese President Xi Jinping.

Trump said China’s tariffs on the U.S. will stay at 10%, where they have stood since both sides agreed last month to temporarily pare back retaliatory duties on each others’ goods.

That 90-day reprieve came after initial talks in Geneva, Switzerland, that yielded a tentative de-escalation on tariffs but left other key sticking points unresolved, including on key minerals known as rare earths.

Trump in Wednesday’s post also wrote that “full magnets any necessary rare earths, will be supplied, up front, by China” as a result of the London talks.

In a follow-up, he wrote, “President XI and I are going to work closely together to open up China to American Trade.”

This is breaking news. Please refresh for updates.



Source

FEMA to send states 8 million to build migrant detention centers
Politics

FEMA to send states $608 million to build migrant detention centers

An aerial view of a migrant detention center, dubbed “Alligator Alcatraz,” is seen located at the site of the Dade-Collier Training and Transition Airport in Ochopee, Florida on July 7, 2025. Chandan Khanna | AFP | Getty Images The Federal Emergency Management Agency is preparing to send $608 million to states to construct immigrant detention […]

Read More
New bill in Congress would reward companies that give stock to rank-and-file employees
Politics

New bill in Congress would reward companies that give stock to rank-and-file employees

A bipartisan bill introduced in Congress this week would create a new tax incentive for public companies to distribute stock to their rank-and-file employees. The new SHARE Act would give a 3 percentage point discount on the corporate tax rate to large companies that distribute at least 5% of their stock to the lowest paid […]

Read More
Trump: ‘I haven’t thought about’ pardoning Jeffrey Epstein accomplice Ghislaine Maxwell
Politics

Trump: ‘I haven’t thought about’ pardoning Jeffrey Epstein accomplice Ghislaine Maxwell

US President Donald Trump speaks to reporters on the South Lawn before boarding Marine One on the South Lawn of the White House on July 25, 2025, in Washington, DC en route to Turnberry, Scotland. Jim Watson | Afp | Getty Images President Donald Trump on Friday deflected questions about his former friend Jeffrey Epstein […]

Read More