Commerce Secretary Howard Lutnick confirms Trump's tariffs will remain in place

Source Cryptopolitan

President Donald Trump is not extending the global tariff pause. That’s the message Commerce Secretary Howard Lutnick delivered when he spoke with Fox News on Sunday, confirming that the current 90-day break from the president’s sweeping import taxes will end in early July.

The tariffs, announced in April, placed new rates as high as 100% on foreign goods entering the United States. Trump temporarily froze most of them due to stock market instability, but that window is about to close.

“Tariffs are not going away,” Howard said on live television, brushing off any idea that legal challenges or diplomatic pressure might cause Trump to change course.

He made it clear that once the freeze ends, the administration will let the full set of tariffs take effect unless specific trade deals are finalized first. “I think that’s the deadline, and the President’s just going to determine what rates people have if they can’t get a deal done.”

Meanwhile, Trump himself said in a Truth Social post today that:

“If the Courts somehow rule against us on Tariffs, which is not expected, that would allow other Countries to hold our Nation hostage with their anti-American Tariffs that they would use against us. This would mean the Economic ruination of the United States of America!”

Tariffs hit 60 countries after the pause ends in July

When the pause expires, imports from 60 countries will be affected. These are nations the White House labeled the “worst offenders,” a group that includes Vietnam, South Africa, and the European Union.

The rates they’ll face vary, but most will jump significantly unless they agree to new trade terms that meet US demands. Trump has defended this aggressive stance as fair retaliation for what he calls decades of unfair trade policies.

The President’s advisers, including Howard, spent Sunday delivering the same message across several news networks. They stood behind the tariff plan despite lawsuits challenging its legality. Howard insisted the administration isn’t rushing into weak deals just to calm tensions.

“We could sign lots of deals now,” he said, “but we’re working to make them better. You’re going to see over the next couple of weeks, really, first-class deals for the American worker,” he added, without giving any specific examples or countries involved.

Meanwhile, on Friday, Trump doubled tariffs on steel and aluminum, pushing them from 25% to 50%. That increase will go into effect Wednesday, and it directly targets producers like China, India, and Japan—countries that have expanded their steel industries while US production has declined. Trump says the goal is to rebuild American manufacturing and reduce the country’s dependence on foreign materials.

US-China trade tensions worsen as talks stall

The biggest unresolved deal is with China. Both countries agreed to a limited trade truce in May, during talks held in Geneva. As part of that temporary arrangement, the US dropped tariffs on Chinese goods from 145% down to 30%, and China lowered its tariffs on US products from 125% to 10%.

But no full agreement has been reached, and officials on both sides are still trying to arrange a direct conversation between Trump and Chinese President Xi Jinping.

Treasury Secretary Scott Bessent spoke to CBS News and said, “What China is doing is they are holding back products that are essential for the industrial supply chains of India, of Europe. And that is not what a reliable partner does.” He added that it’s unclear whether the product delays are a glitch or a deliberate tactic. “We won’t know until that call happens.”

China, in turn, pushed back. On Friday, officials in Beijing demanded that Washington “immediately correct its erroneous actions” and stop “discriminatory restrictions” against Chinese companies. They also called on the US to uphold the outcomes of the Geneva negotiations.

Back in Washington, National Economic Council Director Kevin Hassett told ABC News that a call between Trump and Xi could happen soon. “Both sides have expressed a willingness to talk,” Kevin said. But he warned that the administration is ready if those talks don’t lead to results. “If we have cannons without cannonballs, then we can’t fight a war.”

He also said the tariffs aren’t just about money. “We have to have a steel industry that’s ready for American defence,” Kevin added, reinforcing the White House’s claim that this economic policy is tied to national security.

KEY Difference Wire: the secret tool crypto projects use to get guaranteed media coverage

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Ripple (XRP) Price Sees a Surge, Solana Targets $600 in 2025 as Investors Increase Focus on New AltcoinThe cryptocurrency market is showing renewed momentum as Ripple (XRP) experiences a significant price surge, and Solana (SOL) sets its sights on a bold $600 target by 2025. Meanwhile, a rising altcoin, Lightchain AI, is capturing investor attention with its innovative ecosystem and strong presale performance, making it a compelling choice for forward-looking investors. Ripple […]
Author  Cryptopolitan
Jan 15, Wed
The cryptocurrency market is showing renewed momentum as Ripple (XRP) experiences a significant price surge, and Solana (SOL) sets its sights on a bold $600 target by 2025. Meanwhile, a rising altcoin, Lightchain AI, is capturing investor attention with its innovative ecosystem and strong presale performance, making it a compelling choice for forward-looking investors. Ripple […]
placeholder
What Crypto Whales are Buying For May 2025Crypto whales are making bold moves heading into May 2025, and three tokens are standing out: Ethereum (ETH), Artificial Superintelligence Alliance (FET), and Onyxcoin (XCN).
Author  Beincrypto
Apr 21, Mon
Crypto whales are making bold moves heading into May 2025, and three tokens are standing out: Ethereum (ETH), Artificial Superintelligence Alliance (FET), and Onyxcoin (XCN).
placeholder
Ethereum Price Ready to Surge—$2,000 Level Could Be Within ReachEthereum price started a fresh increase above the $1,800 zone. ETH is now rising and attempting a move above the $1,850 resistance. Ethereum started a fresh recovery wave above the $1,820 resistance.
Author  NewsBTC
May 08, Thu
Ethereum price started a fresh increase above the $1,800 zone. ETH is now rising and attempting a move above the $1,850 resistance. Ethereum started a fresh recovery wave above the $1,820 resistance.
placeholder
Ethereum Price Explodes Past $2,200 with 25% Surge—Momentum Builds FastEthereum price started a fresh surge above the $2,000 zone. ETH is now up over 25% and consolidating gains near the $2,200 zone. Ethereum started a fresh surge above the $2,000 resistance.
Author  NewsBTC
May 09, Fri
Ethereum price started a fresh surge above the $2,000 zone. ETH is now up over 25% and consolidating gains near the $2,200 zone. Ethereum started a fresh surge above the $2,000 resistance.
placeholder
Gold Price Forecast: XAU/USD holds above $3,300 on economic uncertainty, geopolitical risksThe Gold price (XAU/USD) rebounds to around $3,310 during the early Asian trading hours on Monday. Ongoing tariff uncertainty and persistent geopolitical tensions boost demand for safe-haven assets like gold.
Author  FXStreet
Yesterday 01: 23
The Gold price (XAU/USD) rebounds to around $3,310 during the early Asian trading hours on Monday. Ongoing tariff uncertainty and persistent geopolitical tensions boost demand for safe-haven assets like gold.
goTop
quote