China Tariffs: Lutnick Predicts No Change
- Commerce secretary Howard Lutnick stated Wednesday that existing U.S.
- President Donald Trump addressed the trade situation in a Truth Social post Wednesday, indicating U.S.
- Trump's statement followed high-level discussions in London between U.S.
U.S. Tariffs on China to Remain Unchanged Amid Trade Deal Progress
Updated June 11, 2025
U.S. Commerce secretary Howard Lutnick stated Wednesday that existing U.S. tariff levels on Chinese imports will remain in place,even without a finalized trade agreement between the two nations. Lutnick made the comments during an appearance on CNBC’s “money Movers.”
President Donald Trump addressed the trade situation in a Truth Social post Wednesday, indicating U.S. duties on china would total 55%. A White House official clarified that this figure combines the existing 30% blanket tariffs with the 25% tariffs already applied to specific products.
Trump’s statement followed high-level discussions in London between U.S. adn chinese trade negotiators. He asserted that the deal is “done” but requires final approval from himself and Chinese President Xi Jinping. Trump added that Chinese tariffs on U.S. goods will remain at 10%, a level agreed upon last month after initial talks in geneva.
According to Trump, China will supply “full magnets, and any necessary rare earths” to the U.S.as a result of the London negotiations. He also stated that he and President Xi will collaborate to open China to American trade.
Lutnick highlighted that the recent negotiations built upon the “Geneva truce.” He noted that previous delays in Beijing’s rare earth exports led to retaliatory measures from Washington, including visa restrictions for Chinese students. Lutnick credited a recent phone call between Trump and Xi with resolving the issue, stating that China will instantly approve all magnet applications from U.S. companies.
However, unanswered questions remain regarding China’s commitments. The Wall Street Journal reported that China plans to issue only temporary, six-month licenses to U.S. companies importing rare-earth minerals and magnets, potentially creating supply chain uncertainty.
The White House has not yet responded to requests for comment on Lutnick’s statements or further details on the London agreement.
what’s next
The next step involves final approval from both President Trump and President Xi to solidify the trade agreement and its implications for U.S. tariffs, rare earth supplies, and overall trade relations with China.