The Latest Breaking News from Howard Lutnick

‘The tariffs are going to be the tariffs,’ the president said when asked about when the levies would return to April levels

The July 9 deadline for the 90-day tariff pause is approaching as global trade diplomacy intensifies. While President Donald Trump evaluates options on reciprocal tariffs, nations across Asia and Europe are discussing deals that protect their interest, while balancing ties with both Washington and Beijing.

Lutnick’s China promise did little to impress markets, but overall added to a period of relative stability. Yet one analyst warned this may be a “false dawn.”

September S&P 500 E-Mini futures (ESU25) are trending up +0.28% this morning amid renewed optimism about trade deals, while investors await the release of the Federal Reserve’s first-line inflation gauge.

The U.S. and China have finalized a trade understanding, building on an agreement reached last month in Geneva. Commerce Secretary Howard Lutnick confirmed the deal, which was signed two days ago, noting that the White House has immediate plans to secure agreements with ten other major trading partners.

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The EU is under pressure to strike a trade deal with Trump, but an influx of mass-produced, low-quality food must be off the table, says Guardian Europe columnist Alexander Hurst

Treasury secretary and former head of DOGE clashed in West Wing in April within earshot of Donald Trump in Oval Office

Refrigerators, freezers, dishwashers, washing machines, and dryers are among the products subject to the president’s 50 percent tariff on imports derived from aluminum and steel.