U.S. Commerce Secretary Howard Lutnick stated on Sunday that the ongoing bilateral talks with China in Geneva are aimed at “de-escalating” tensions between the two superpowers. He also predicted a series of trade deals with unspecified countries in the coming months.
In an interview on “Fox News Sunday With Shannon Bream,” Lutnick emphasized that Treasury Secretary Scott Bessent’s objective is to “reset the conversation” with China, referencing the high tariffs currently in place. He pointed out that tariffs of “145% and 125%” effectively halt trade between the nations. These figures allude to China’s retaliatory tariffs of 125% and the 145% U.S. tariffs imposed as part of President Donald Trump’s strategy to boost domestic manufacturing through trade policy.
Lutnick mirrored Trump’s optimistic outlook, stating, “For the next three months this policy is going to see trade deal after trade deal.” However, he did not disclose which countries the United States is targeting for these agreements. This statement follows the recent announcement of a limited bilateral trade deal between the U.S. and the UK, revealed last week by Trump and UK Prime Minister Keir Starmer.
Lutnick downplayed concerns about job losses among dock workers and truckers due to the tariffs, asserting, “This is just a China problem right now. The rest of the world is 10% (tariffs). So don’t overdo it.” He further added, “Prices are going to stay stable once this policy is done.”
