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 earlier Wednesday on Truth Social that duties on China will total 55% — but a White House official told CNBC shortly after Trump’s announcement that the 55% 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.
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